Recurring Deposit (RD)

Recurring Deposit (RD) is a facility for those people who have regular incomes, and who wish to regularly deposit a small, fixed amount at pre-determined periods, and for a fixed period. The interest depends on the period for which the client agrees to deposit the said RD amount.

Features

• Instalment amount and the deposit term have to be fixed at the time of account opening.
• Minimum deposit term of 6 months
• No limit for maximum deposit amount
• Customers opening RD accounts are allowed to prematurely close the account.
• A customer can maintain any number of RD Account in his name or in the joint names with another.