Recurring Deposit
Build a disciplined saving habit with a UGB Recurring Deposit — invest a fixed amount every month and earn assured interest over your chosen tenure (12 months to 10 years). A simple way to save for short- and medium-term.
Overview
Charges
- 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.
- 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 is applicable as per Income Tax Act and Rules. Form 121 can be submitted by the eligible depositor for exemption from tax deduction as per IT Rules.
- Nomination facility available.