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What is
Recurring Deposit ?
Recurring Deposit scheme is meant for investors who want
to deposit a fixed amount every month, in order to get a
lump sum after one to five years. The scheme, a systematic way
for long term savings, is one of the best investment
option for the low income groups.
Why Recurring
Deposit with Us ?
The minimum investment in our bank Recurring Deposit
Account is Rs 100/- and then in multiples of Rs. 100/-. The
upper limit for investment is Rs. 1000/-. Anyone
can open this account in their personal name. Two or more
individuals can open combine account. The bank will provide passbook to
depositor and depositor have to take passbook when they
come for deposit monthly installment or close account. The
bank don't take any commission on monthly installment
deposit from depositor.
TABLE FOR Rs.
100 MONTHLY INSTALLMENT
| INVESTMENT PERIOD |
FINAL AMOUNT |
| For 12 Months |
Rs. 1243/- |
| For 24 Months |
Rs. 2569/- |
| For 36 Months |
Rs. 4014/- |
| For 48 Months |
Rs. 5548/- |
| For 60 Months |
Rs. 7193/- |
TABLE FOR
MUTUAL AMOUNT FOR JANTA RECURRING DEPOSIT (CUMULATIVE
SCHEME) - Rs. 100/-.
| INVESTMENT PERIOD |
FINAL AMOUNT |
| 12 Months |
Rs. 107/- |
| 24 Months |
Rs. 114/- |
| 36 Months |
Rs. 123/- |
| 48 Months |
Rs. 132/- |
| 60 Months |
Rs. 141/- |
| 120 Months |
Rs. 200/- (Double) |
Required
Documents ::
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Identity Proof (Any one of following
documents)
Passport
Driving License
PAN Card
Voter ID Card
Defence / Govt / ID Card
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Address Proof (Any one of following
documents)
Passport
Voter ID Card
Ration Card
Electricity/Telephone/Mobile Bill
Life Insurance Policy /Premium Receipts
House Lease Agreement
Employer's Letter in case of Pvt. & Public Ltd. Company.
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Passport Size Photograph
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Specimen Card
Application Forms for
Cumulative Deposit
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