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Top Features Of Recurring Deposits (RD)
Earn high interest rates on Recurring Deposits
Senior citizens get up to 0.50% extra interest on their fixed deposits
Plan investments for your child’s future or save for long-term growth
About Recurring Deposits(RD)
If you are thinking about investing and have a regular income, a Recurring Deposit can be just what you need. Periodic investments come with the reward of high-interest rates when investing in Recurring Deposits.
Our Recurring Deposits will earn you an interest rate similar to regular Fixed Deposits but for a comparatively smaller amount per month. You can choose to begin your investment with an amount as little as INR 100. You can select a tenure ranging from three months up to 10 years.
Features of a Recurring Deposit
Lucrative returns on investment: Earn up to 7.50% interest on your Recurring deposits, depending upon your principal amount and tenure.
Ease of application: You can complete the entire Recurring Deposit application process online through AU 0101, or through our Video Banking facility, or visit a branch to apply in person.
Banking at your convenience: No need to visit a branch; now get all your deposit-related service requests executed from the comfort of your home with the help of our Video Banking facility.
Flexible tenure: Decide on the duration of three months to 10 years as per your requirement.
Rate of interest: Enjoy the same rates of interest as on Fixed Deposits.
Goal based saving: An ideal investment choice to help you save for your children’s education, their wedding, a vacation, or save for long-term growth!
Benefits of a Recurring Deposit
Guaranteed returns: Enjoy fixed returns on the principal amount, based on the tenure.
A simple financial product: A Recurring Deposit is an easy investment product to begin your investment journey.
Withdraw money anytime: The facility of anytime withdrawal is offered with this kind of deposit. The bank might charge a small amount for early withdrawal, but the Recurring Deposit is still a better option for any depositor who wants to withdraw money to meet an urgent need.
DICGC Insurance: We are a scheduled commercial bank, and your deposit is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
For more information on general terms & conditions of Fixed Deposits, kindly click here.
Resident Indians, including senior citizens
How to apply for a Recurring Deposit
If you already have a Savings Account with us, you can apply for a Recurring Deposit through one of the various ways stated below:
Video Banking: You can now start a Recurring Deposit through our Video Banking services by clicking here. All you need is your PAN Card and Aadhaar Card.
AU 0101 App or NetBanking: As an existing customer, you can apply for a Recurring Deposit through AU 0101 App or NetBanking.
Visit your nearest branch: You can also visit your nearest branch to book a Recurring Deposit.
Q1. What is a Recurring Deposit?
Recurring Deposits are highly flexible investments that allow you to invest any amount based on your choice. These deposits mature on a specific date in the future with the monthly deposits done in the past. Recurring Deposits can also be financed by means of standing instructions given by the customer to the bank for the withdrawal of money.
Q2. How do banks calculate the amount at maturity?
The amount at maturity is calculated based on the principal amount and the tenure that the depositor chooses.
Q3. What is the amount of interest that can be earned by investing in a Recurring Deposit account?
The interest rate varies from one bank to another depending on the tenure selected for the Recurring Deposit account. Senior citizens also receive a special 0.5% extra interest. For more information on our interest rates, please click here.
Q4. Is it possible to add nominees to my Recurring Deposit account?
Yes. You can add nominees to your Recurring Deposit account by reporting them to your respective bank. You only need to abide by the norms of the bank during the procedure.
*For Resident Indian Senior Citizens on Recurring Deposits tenure of 25 Months to 45 Months , basis 8% interest rate per annum. Terms and Conditions apply. Rates are subject to change at the sole discretion of AU Small Finance Bank.