Recurring Deposite

• Recurring Deposit is a monthly Fix Savings Scheme.
• Customer can Open Recurring A/c with minimum of Rs.50/- per month and in count 114 months pay Rs. 50/- and after 115 month get back 50/- per month.
• We offer nomination facility for all deposit accounts.

Rules & Regulation for Recurring Deposit

• Depositor has to fulfill KYC norms as per RBI directive.
• Guardian can open Minor’s Recurring A/c. When minor turn major there after providing valid age proof he/she can withdraw the amount with his/her signature.
• Every Depositor must have to deposit their instalments till date of opening a/c or last installment date of every month.
• If Depositors failed to deposit Installment on regular basis, penalty will be levied.
• The maturity amount is payable after 30 days of last instalments deposited.
• If customer want to close the 12 months period deposit account before its mature period then the interest will be applicable as per Savings Interest Rate.
• If Customer Deposit more instalments than required for prescribe period then Interest will not be applicable on extra installment he/she deposited.
• If customer having Savings or Current a/c in the Bank then by the written application Bank will transfer Recurring Deposit instalments from that account as standing instruction.
• The Bank is having rights of appropriation, set off, lien and change the rules and regulation for the scheme.
• 1% penalty will be levid on present interest rates.

Requirements to Recurring Deposit

• Valid Photo I.D. & Address Proof of proprietor / partners /directors

1.Passport
2.Driving License
3.Voter ID Card
4.Government Approved College/university I.Card
5. Government/Semi government/Department I.Card
5. Aadhar Card

(B) Address Proof(Any One)

1. Electricity Bill (not more than 2 months old)
2. BSNL Landline Telephone Bill (not more than 2 months old)
3.Municipal Tax Bill


• Other proof acceptable by Bank.
• Passport Size Photograph – 2 Copies
• Pan Card
• Birth Certificate for minor a/c.