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Build Savings Step-by-Step with a Recurring Deposit Account

Our Recurring Deposit (RD) Account is designed for individuals who wish to save regularly and earn attractive returns. With disciplined monthly contributions, you can grow your savings over a fixed period with guaranteed interest.

Whether you're planning for education, a vacation, or an emergency fund, an RD makes goal-based savings simple and rewarding.

Start small, save consistently, and watch your money grow securely.

Features of Recurring Deposit Account

  • Fixed monthly deposit amount
  • Tenure ranges from 6 months to 10 years
  • Attractive interest rates similar to Fixed Deposits
  • Safe and secure savings option
  • Premature withdrawal facility available (with penalty)
  • Loan or overdraft facility against RD

Who Can Open a Recurring Deposit Account

  • Resident individuals (single or joint)
  • Minors under guardianship
  • Salaried employees, pensioners, students
  • HUFs, firms, and associations

Documents Required

  • Valid ID proof (Aadhaar, Passport, Voter ID)
  • Address proof (Utility bill, Aadhaar, etc.)
  • PAN Card or Form 60
  • Recent passport-size photograph

How to Open a Recurring Deposit Account

  • Visit your nearest branch or open online
  • Choose the deposit amount and tenure
  • Fill out the RD application and KYC form
  • Submit required documents for verification
  • Start monthly contributions via auto-debit or manual deposit

Benefits of Recurring Deposit

  • Disciplined and systematic savings
  • Ideal for short- and medium-term financial goals
  • Earn higher returns than a regular savings account
  • Easy to open and manage with minimal risk

Important Notes

  • Missed monthly payments may reduce maturity value
  • Premature closure subject to penalty and revised interest
  • Interest is compounded quarterly and taxable as per norms
  • Nomination facility available
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