This scheme is been introduced for monthly saving where you can deposit a certain amount for specified period by the bank. Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
Along with this we have various schemes of deposits like,
  • Fixed Deposit Monthly Interest Scheme
  • Quarterly Interest Scheme
  • Half Yearly Interest Scheme
  • Cumulative Deposit Scheme
  • Minimum Amount of deposit: 100 & in multiples of 100/-
Facilities Offered
  • Monthly Standing Instruction are accepted. (For installment credit)
  • Loan against Recurring account is granted as per prevailing rules.
Duration Rates from 01-01-2018

Duration Rates
30 Days To 45 Days 5%
46 Days To 90 Days 5.00%
91 Days To 180 Days 5.50%
181 Days To 365 Days OR Upto 12 Months 6.50%
From 366 Days To 15 Months(Simple Interest) 7.50%
From 366 Days To 15 Months(Compound Interest) 7.25%
From 15 Months To 24 Months(Simple Interest) 7.50%
From 15 Months To 24 Months(Compound Interest) 7.25%
From 24 Months To 36 Months(Simple Interest) 7.25%
From 24 Months To 36 Months(Compound Interest) 7.00%
36 Months Above(Simple Interest) 6.90%