Recurring Deposit account may be opened by individual and also a minor
Deposit by way of fixed monthly instalment is made in the account during the fixed period.
- Interest is compounded on quarterly basis and payment thereof is made on date of maturity.
- TDS on interest is deducted as per income tax laws.
- Nomination facility available.
- Premature payment available (certain terms & Condition apply)
- Loan facility against the Deposit available.
- KYC not required, if already having Saving Account with the Bank.