Recurring Deposit

This scheme is targeted towards daily wage earners, shopkeepers, salaried class who are not in position to lodge deposit of sizeble amount at one go, but still can gradually build up sizeble deposits on lapse of a specific period by saving a minimum amount of Rs. 25/- per month (maximum can be any amount in multiple of Rs. 5/-).

On such small saving he will earn interest payable by bank Fixed Deposits, where otherwise minimum amount of  Rs.1000/- is required to open F.D. A/C under any Schemes.

Depending upon a period, for which the depositor is desirous of contributing his monthly saving, interest rate will be fixed.        

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