Features of Recurring Deposit
Minimum Amount of deposit is Rs.500
No age limit
No limit for maximum recurring deposit amount.
1 )Benefits
- Simple investment product which offers regular savings & safety.
- Minimum period of deposit: 1 year.
- Maximum period of deposit: 60 Months.
- Minimum Amount of deposit is Rs.100 .
- No limit for maximum recurring deposit amount.
- Option of premature withdrawal in case of any urgent need is available.
2) Rate of Interest
- Good returns will get in this scheme near about 6.75% interest per annum.
3 ) Eligibility
- Any individual who is resident of India.
- No age limit.
4) Documentation & Security
- Identity Proof of depositor.
- Address proof of depositor.
- In case of minor, guardian’s documents & signature is required.
5)Pledging Of Deposit
- Pledging of deposit is 80% of RD amount.