Recurring Deposit

FEATURES:

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A reliable monthly investment tool to plan for your future financial needs. Invest each month a fixed amount for specific period and earn more than regular returns

  • Deposit Period: Minimum 1 year & Maximum 10 years.
  • Interest Payment: Quaterly compounding Interest payable on Maturity
  • Amount of Deposit: Minimum Amount: ₹ 100/- per month & Maximum Amount: No limit.
  • Premature Withdrawal: Allowed with 1% penal interest for the tenure of deposit as on the date of deposit.
  • Benefits: Loan against tdr, Nomination facility, Insurance coverage upto 5 lakh per customer

TDS
• The tax on interest earned is deductible in accordance with the provisions of the Income Tax Act 1961.
• 15G/15H is required to be submitted for exemption of TDS

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