Our Bank offers Recurring Deposit which enables a depositor particularly in fixed income group to save by paying into the account an agreed fixed sum of money on monthly basis over a stipulated period and to earn compound interest on quarterly basis.
Deposit Features & Advantages:
- Good option to earn more in compound interest
- Can be funded by debiting savings/current accounts through standing instructions
- Rate of interest is more than normal savings account
- Higher rate of interest for senior citizens
- Availability of pre-maturity
- TDS is applicable for the deposit