A recurring deposit may be opened in the names of Individuals, joint holders, minors, firms, institutions, associations and companies without restriction to number of accounts.
- Recurring Deposit accounts are for definite period ranging from 12 to 120 months
- Instalments in multiples of Rs. 5.00 per month are acceptable
- Monthly instalment and period of the deposit cannot be altered subsequently under any circumstances.
- If closed before 3 months, no interest needs to be paid.
- Loans on recurring deposit may be granted subject to margin and rate of interest prescribed by Head Office from time to time.