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RECURRING DEPOSITS (RD):-



The Recurring deposit account is an account in the society where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from two year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.





S. N. Plain Name Plan Code Plan Duration ROI (%) Compounding Minimum D Amount S. C. ROI
01 RD 2 Year Monthly RD 2YM 24 Months 5.00 Yearly 1000.00 0.50
02 RD 3 Year Monthly RD 3YM 36 Months 7.00 Yearly 500.00 0.50
03 RD 5 Year Monthly RD 5YM 60 Months 9.00 Yearly 300.00 0.50

i. For 2 years scheme → Prematurity facility is not available up to 18 months. On any prematurity after 18 months and before 24 month, interest rate will be applicable and service charge will be deducted as per society’s terms and conditions.

ii. For 3 years scheme → Prematurity facility is not available up to 24 months. On any prematurity after 24 months and before 36 month, interest rate will be applicable and service charge will be deducted as per society’s terms and conditions.

iii. For 5 years scheme → Prematurity facility is not available up to 42 months. On any prematurity after 42 months and before 60 month, interest rate will be applicable and service charge will be deducted as per society’s terms and conditions.

i.For 2 years scheme → Maximum up to 70% of the deposit amount.
ii. For 3 years scheme → Maximum up to 80% of the deposit amount.
iii.For 5 years scheme → Maximum up to 90% of the deposit amount.
iv. Interest rate will be applicable as per society’s terms and conditions.

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