Recurring Deposit Account

TYPE OF ACCOUNT	Individual, Joint Account, Guardian on behalf of minor, HUF, Proprietorship firm, a Company, An association, a trust, an institution
PATTERN OF DEPOSIT	Minimum Rs.100/- per month (and in multiples thereof) No ceiling on maximum amount
PERIOD OF DEPOSIT	Minimum 3 months & Maximum 120 months
INTEREST RATE	As applicable to term deposits of various tenures prevailing from time to time, Interest compounded quarterly.
SPECIAL INTEREST RATE FOR SENIOR CITIZEN	0.50% over & above the rate applicable to general public.
TDS	As per Income Tax Rules
NOMINATION FACILITY	Available
LOAN FACILITY	Available upto 80% of the available deposit balance
PENALTY FOR PRE-MATURE CLOSURE	A penalty of 1.00% will be levied for premature closure of Recurring Deposits. Such prematurely closed Recurring Deposits will earn interest at 1.00% below the interest rate as ruling on the date of deposit and as applicable for the period run.
APPLICATION AND DOCUMENTS	Application in the Bank's prescribed form. Copy of PAN Card Photograph of Depositor/s (2 copies). Proof of Identity and address as per KYC Norms. Any other related documents as applicable to proprietor ship concern, Partnership Firm, Company, HUF etc.