In Recurring Deposit scheme, instead of a one-time lump-sum investment, you can make a fixed monthly investment. On maturity, the Bank pays you the invested amount along with interest earned. Thus, you make equal periodic payments, and get it back with interest as a lump-sum at the time of maturity. Fixed monthly installment of Rs.100/- and above can be made for periods ranging from 1 year to 10 years.

Major attractions of RD:

  • The most preferred investment scheme by the salaried / fixed monthly income group. 
    It automatically promotes the habit of compulsory savings. cs. 
  • Overdraft facility up to 90 % of the outstanding balance. 
  • High yield, since you get the applicable rate of interest for the whole period of deposit, even for the last monthly installment made by you. 
  • Facility to remit installment through internet banking or through Standing Instruction.