Flexi Recurring Deposit

Under Flexi Recurring Deposit scheme, customers will have greater flexibility with their savings. You can choose to deposit a minimum of Nu.100 per month and can increase this amount anytime you wish. If you have more spare money to save, you can deposit funds multiple times in a month or either choose not to make any deposits in a month.

Amount limit

1. Minimum Installment for opening Recurring Deposit is Nu. 100
2. Maximum Installment for opening Recurring Deposit is Nu. 20,000

There is no cap on the number of times you can deposit in a month. In a year, a depositor can save up to Nu. 240,000.

Tenure

1. Minimum 1 year
2. Maximum 20 years

Loan Facility

Customers can avail loan against Flexi Recurring Deposit.

Default Payments

There will be no penalties charged if the customer cannot make timely deposits into their Account.

Premature Withdrawal

Flexi deposits can be broken before the maturity date. The interest rate will be 1 % less than the applicable rate of interest the RD has been kept with the Bank. However, if the RD is closed before 3 months, the customer will not be eligible for interest.

REQUIRED DOCUMENTS

Eligibility Documents required
For Individual Account

  • Copy of a valid Passport / Citizenship ID Card

  • Two Passport sized photographs

  • Legal stamp

For Non-National Individuals

  • Work Permit copy

  • Passport copy

  • Legal stamp

  • Two Passport sized photographs
For Minor Account

  • Photocopy of a valid Passport / Citizenship ID Card of parents or guardian

  • Two Passport sized photographs of the Guardian

  • Minor’s Health Card
  • Call us on: 1095
  • Write to us at: [email protected]
  • Request Callback:+975