Recurring Deposit is a kind of Term Deposit, where one can park fixed amount every month in Recurring Deposit Account over a fixed period like 6 month or more.
Bhagini Nivedita Bank helps to save you monthly and get the lump sum amount to fulfill your desired goal after period which you set.
Who are Eligible?
Individuals
Joint Accounts
Minors
High interest rate.
Simple documentation
Minimum period 6 months
Minimum Deposit Amount Rs. 50/- and onwards. Can be opened in multiples of 25/- .No maximum Cap.
Nomination facility
Passbook
You can avail Loan up to 90% of available balance in Recurring Deposit
Pre-mature withdrawal is allowed and penalty applicable as per the rule
Penalty charges will be applicable in case default in monthly installment.
TDS will be applicable on the interest earned as per the prevailing rate.
