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Recurring Deposit

Unique Benefits of Recurring Deposit

About Recurring Deposits

    Earn Attractive Interest Rates of Up to 8.00%*

    • Small savings go a long way! It’s always the right time to start.
    • Attractive Rates on Recurring Deposits.
    • Start investing from INR 100 per month.

FAQs

 

Q1. What is the minimum amount and maximum amount monthly for an RD?

Minimum INR 100/- Maximum INR 150,000/-

Q2. What is the minimum and maximum tenure to set up an RD?

Minimum - 3 months Maximum 10 years

Q3. Can I book RD in monthly / quarterly / half yearly mode?

No, only monthly payment mode is acceptable

Q4. What the interest paid if I Pre-close the RD?

The interest rate applicable for the covered period, along with penalty of 1%* will be applied

Q5. Can I close the RD through Internet Banking?

The facility is not made available right now

Q6. Can I set up an RD for my minor kid?

Yes

Q7. Can I give instructions to credit the maturity amount of my minor kid, to my account?

Yes, the instalments of RD should also be paid from the same account

Q8. Can I create a standalone RD a/c?

No, we require Savings / Current account for paying RD instalments.

Q9. Can I set up a RD to debit my joint a/c?

Yes, the mode of operation of RD will be similar to the joint account

Q10. Should the amount be constant?

Yes, we cannot have differential instalments

Q11. Is the RD entitled for TDS?

Yes, RD is subject to TDS

Q12. How is the interest paid - Monthly / Quarterly or yearly?

Interest of RD is Quarterly compounded, paid at maturity

Q13. What is the maximum number of RD's that I can create from my Savings a/c.

There is no limit.

Q14. When will my RD mature?

On the 30th Day, from the last installment day.

Q15. What are the dates I can opt for RD payments?

5th, 10th, 15th, 20th & 25th