Home > Recurring Deposit Plus
Recurring deposit is a disciplined approach to savings for accumulating a larger sum for any specific purpose. Under Recurring Deposit Plus scheme, you deposit a fixed amount at specific intervals for a fixed period of time. At the end of the tenure, you get back the entire amount deposited along with interest.
Amount limit
1. Minimum Installment for opening Recurring Deposit is Nu. 100
2. Maximum Installment for opening Recurring Deposit is Nu. 10,000
2. Maximum Installment for opening Recurring Deposit is Nu. 10,000
Tenure
1. Minimum 1 year
2. Maximum 20 years
2. Maximum 20 years
Loan Facility
Customers can avail loan against Recurring Deposit Plus.
Default Payments
1% of the installment for each defaulted month.
Premature Withdrawal
Recurring Deposit Plus 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 |
|
For Non-National Individuals |
|
For Minor Account |
|