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Recurring Deposit
A monthly saving scheme with fixed deposits.
About Scheme
A scheme where a fixed amount is deposited every month.
Helps to build a large amount through regular savings.
Important Notes
- 2% less interest on premature withdrawal.
- Penalty for missing installments.
- Account closes if no payment for 6 months.
- Minimum investment ₹100.
- Amount paid within 1 month after maturity.
Required Documents
| Type | Documents |
|---|---|
| Photo ID | PAN Card / Election Card / Office ID |
| Address Proof | Aadhar Card / Electricity Bill / Ration Card |
Eligibility
- Must be a member.
- Minimum age 18 years.
- Guardian required if under 18.
- Loan facility up to 80%.
- Manager approval required.
