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 Ordinary Citizens Senior Citizen & Cooperative Societies
30 Days To 180 Days 4.25% 4.25%
181 Days To 365 Days or 12 Months 6.00% 6.50%
12 Months or 36 Months 7.00% 7.50%
36 Months Above 5.50% 6.00%