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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/-. 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
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INVESTMENT PERIOD |
FINAL AMOUNT |
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For 12 Months |
Rs. 1243/- |
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For 24 Months |
Rs. 2569/- |
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For 36 Months |
Rs. 4014/- |
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For 48 Months |
Rs. 5548/- |
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For 60 Months |
Rs. 7193/- |
TABLE FOR MUTUAL AMOUNT FOR JANTA RECURRING DEPOSIT (CUMULATIVE SCHEME) - Rs. 100/-.
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INVESTMENT PERIOD |
FINAL AMOUNT |
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12 Months |
Rs. 107/- |
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24 Months |
Rs. 114/- |
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36 Months |
Rs. 123/- |
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48 Months |
Rs. 132/- |
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60 Months |
Rs. 141/- |
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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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