Reccuring Deposit

Deposit Interest Rate from 10/05/2019.

Sr.No. Period Rate
1 30 Days To 90 Days 6.00 %
2 91 Days To 180 Days 6.50 %
3 181 Days to 395 Days 6.75 %
4 13 Months To 36 Months 7.25 %
5 37 Months & Above 7.50 %

Senior Citizen & Co-Op Society will get 0.50% extra.

contact the nearest branches to know more…

Bank registered under DICGC for the safety of deposit holders in which customer is insured up to Rs.1,00,000/- on his/her deposit/s.

Non-individuals(Co-operative Societies). These deposits will be in equal monthly installments. Each monthly installment will be Rs. 100/- or an exact multiple of Rs. 100/-. The depositor shall at the time of opening the account stipulate both the amount of the monthly installment and the total number of installments to be payable by him and shall not subsequently alter or vary them.

Benefits

The loan not exceeding 75%of the amount deposited may be allowed to depositor subject to condition and interest on such loan at the rate will be charged half yearly at the rate not less than 2% above the fixed deposit rate for the similar period for which the Recurring Deposit is opened.

The below mentioned are the rate of interest on deposits ( other than Foreign Currency, Non-resident Accounts, Non-resident (External) Rupees Accounts and other Foreign Currency Accounts)

 

  • Simple interest will be applied on annual basis.
  • Housing societies and their Associations and Urban banks will get 0.50% more interest on Term Deposit of single amount of Rs.15 Lacs and above kept for a period of 500 days, and 3 to 5 years.
  • Senior Citizen will get 0.5% more than the above rates.

Documents required

Account Opening Form

  • PAN/Gir No./Form No. 60/61
  • Residential Address Proof
  • The installment for any calendar month must be paid on or within 3 days of the stipulated date
  • Standing instructions from a depositor for transfer of monthly installments from his saving Bank or Current account will be accepted.
  • Installment amount can be accepted in manner of Cheque, ECS, RTGS, NEFT, IMPS by Bank.