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Fixed Recurring Deposit

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

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 ::

  • Identity Proof (Any one of following documents)
    Passport
    Driving License
    PAN Card
    Voter ID Card
    Defence / Govt  / ID Card
     
  • 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.
     
  • Passport Size Photograph
     
  • Specimen Card

Application Forms for Cumulative Deposit