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Recurring Deposit

The Recurring deposit scheme is introduced for benefitting people with regular monthly income. They can deposit a fixed amount every month and earn interest at the applicable rate.

RD Scheme for Citizens

Tenure Monthly Minimum Investment Interest Rate
12 Month 10000 10.25%
24 Months 10000 10.75%
36 Month 10000 11.25%
48 Month 10000 11.75%


Mode Of Payment:-

All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory, payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Outstation cheques shall not be accepted.


Issue of Passbook:-

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the passbook updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made based on receipts only.


Terms & Conditions:-

  • Interest will be calculated on yearly basis.
  • Recurring Deposit minimum amount Rs 100/-, thereafter in multiples of Rs 100/-
  • 1 month after paying last instalment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled to premature payment and loan facility against it.
  • 1 month after paying last installment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled for pre mature payment and loan facility against it.
  • On irregular deposits, if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
  • After the maturity date, payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account. No deductions will be made on principle amount of such accounts.

Loan facility on Recurring Deposits :-

  • On 24 month and 36-month deposit schemes, after 1-year (after receiving of 12 instalments) loan up to 60% of deposited amount will be given.
  • On 48 month and 60-month deposit schemes, after 1.5 years (after receiving of 18 instalments) loan up to 60% of deposited amount will be given.

Pre Mature Closure Of Deposits::-

Fore closure of deposits will not be permitted until completion of 3 months from the date of Deposits. No interest will be paid for deposits foreclosed after 3 months but before 6 months from the date of deposit. For Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.