Uttarakhand Gramin Bank

Recurring Deposit

A Recurring Deposit (RD) is a type of fixed deposit that allows you to invest a fixed amount of money every month for a predetermined period of time. This account is designed for individuals who want to build savings systematically through regular monthly contributions. Recurring deposits are a popular choice for those who want to accumulate wealth over time while earning interest on their deposits.

With a Recurring Deposit, you can set aside a fixed sum of money each month, which is then invested at a fixed interest rate for a specific tenure, typically ranging from 6 months to 10 years. At the end of the tenure, you can withdraw the total sum along with the interest earned.

Recurring Deposit
Overview
Eligibility Requirements
Rates & Others
  • Minimum Rs.50/- per month (in multiples of Rs.50/-).
  • No ceiling on maximum amount.
  • Deposit can be opened for period ranging from 1 year to 10 years.
  • Standing instruction facility will enable automatic transfer of installment amount from your savings account.
  • Earn Interest at Cumulative Fixed Deposit rates, compounding quarterly.
  • Premature closure is allowed at any point of time with a penalty.
  • Loan facility is available for Recurring deposit against the amount present in your deposit account.
  • TDS applicable as per the extant IT guidelines.
  • Nomination facility available.

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