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Recurring Deposit
 
As the word recurring says, RD account in a bank means frequent investment of money on a higher interest rate than that of SB account. This scheme is used by those people who are salaried employees and those who want to keep aside a portion of their monthly income. Every month the account holder invests a fixed amount into this account.  Withdrawing the money before the stipulated time of maturity is normally not allowed, unless on certain conditions. On maturity, he or she gets principal as well as the interest.  It is systematic and helps to make long term savings.

Bank has introduced a new RD Scheme  ‘Samrudhi Recurring Deposit Scheme’  for individuals, partnership firms, companies, association etc. Period,Denomination and Maturity value are given below

Period

Monthly     Installment    

Maturity Value

10 Years  

5447   

1000160

9 Years     

 6327   

1000035

8 Years    

7438   

1000011

7 Years    

8879   

1000063

6 Years    

10814   

1000076

5 Years    

13539   

1000016

3 Years     

24527   

1000004



 
 
 
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