Individual Recurring Deposit

People with regular saving habits expecting to earn a fair return on the deposits over a period of time can avail the benefits of our Recurring Deposit scheme. While opening the account, the depositor has to agree to credit a fixed amount once a month for a specific period predetermined at the time of account creation. The total deposit along with the interest there in is payable on maturity.

The salient features of the Individual Recurring  Deposits are as under:-

  • Recurring deposit for periods ranging from 12 to 36 months with fixed monthly remittances.
  • No Income tax deducted at source (for Members Only). Premature withdrawal is permitted without any heavy loss on interest.
  • Ideal for persons who can set apart a portion of their monthly earnings, especially regular monthly income earners, viz. traders, pensioners, etc. Its an easy way to save money.
  • Loans, premature withdrawal and Nomination facilities are available.

Documents Required:-

  • Application form (Download from Above)
  • Recent Colour Photograph(3 Nos.)
  • Proof of Address / Residence: Latest Telephone Bill or Electricity Bill or Ration Card
  • Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License
  • PAN Card or Form 60/61 if applied for PAN