Recurring Deposit Scheme

Save a fixed amount every month and invest it for a specific period under this scheme either for a short period or for a long term at attractive rates of interest (compounding rate). This product is ideal for mobilizing future savings, for children education, marriage and other purposes. Withdrawal of the deposit before the date of maturity is possible in this scheme with nominal pre-closure charges. The minimum tenure for this deposit is 12 months (in multiple of 3 months thereafter) up to a maximum period of 120 months. Customers holding savings accounts with us can opt for a standing instruction for their monthly installments. Interest on RDs do not attract TDS (Tax deducted at source)

Who can open this account?

Documents Required