Uttarakhand Gramin Bank

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.

Recurring Deposit
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.

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