Features of RECURRING DEPOSIT

Recurring Deposit Features & Benefits

• The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure.
• Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
• Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.

Terms & Conditions

• It is mandatory to be a member in the company.
• Interest will be calculated on yearly basis.
• Irregular deposits are not entitled for pre mature payment and loan facility against it.
• On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
• R.D. will not be premature within first 3 month.
• After depositing the premium of 6 months, any type of interest will not be given.
• If any person premature it’s FD/RD the person will get the interest of saving a/c interest.
• In case of death of a depositor, the company will repay to nominee or beneficiary the principal & interest, at which it was accepted.