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.

Required Documents for Identity Proof (Any one of following documents)

  • Passport
  • Driving License
  • PAN Card
  • Voter ID Card
  • Aadhar Card
  • Defense/Govt/ID Card

Required Documents for Address Proof
(Any one of following documents)

  • Passport
  • Ration Card
  • Voter ID Card
  • Aadhar Card
  • Electricity/ Telephone/Mobile Bill
  • Life Insurance Policy/ Premium Receipts
  • House Lease Agreement
  • Passport Size Photograph