Recurring Deposits are meant for steady and gradual saving for individuals to build-up the savings through regular monthly deposits of a fixed sum over a fixed period of time. You do not need to open a savings account with us for opening a recurring deposit account.

• Minimum initial monthly instalment: Rs 500/- or in multiples of Rs 100/- thereafter
• Minimum – Maximum Tenure: 1 year to 5 years.
• Automatic Renewal: On maturity, we shall convert your recurring deposit into a fixed deposit for the period as specified by you at the interest rates prevailing on maturity or the same can get credited to your savings account.
• No TDS will be deducted irrespective of the amount of interest paid or accrued in the financial year.