Recurring Deposit

JanSewa Bank    03-Aug-2022
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 Recurring Deposits
Recurring Deposit is a kind of Term Deposit, wherein customer can park fixed amount every month in RD (Recurring Deposits) account over a period of time. Standing instruction facility is available.
  • Individual, Joint Accounts and Minors are eligible to open RD(Recurring Deposits) account.
  • Minimum period 13 months.
  • Minimum Deposit Amount Rs. 100/-.
  • Nomination facility is available.
  • Passbooks are issued.
  • Loan facility is available up to 90% of available balance in RD(Recurring Deposits) account
  • Pre-mature withdrawal is allowed and penalty applicable as per the rule.
  • Penalty charges will be applicable in case default in monthly installment.
  • TDS will be applicable on the interest earned as per the prevailing rate.
  • Monthly installment of ₹ 2531/- for 36 months will give Rs. 1 Lakh on maturity.