A recurring deposit is a special kind of term deposit offered by us which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. It is similar to making fixed deposits of a certain amount in monthly installments. This deposit matures on a specific date in the future along with all the deposits made every month. Recurring deposit schemes allow customers an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period of time. The period of a recurring deposit is variable according to our member needs.
S.N. | Scheme Name | Monthly Deposit | Deposit Amount | Maturity Amount | Tenure | Interest Rate |
---|---|---|---|---|---|---|
1 | RECURRING DEPOSIT | 1000 | 60000 | 71930 | 5 YEARS | 7% |
2 | RECURRING DEPOSIT | 2000 | 120000 | 155816 | 5 YEARS | 10% |