Deposits
Recurring Deposit (onsite collection)
In Recurring Deposit account (RD account), a specific amount is invested in bank on monthly basis for a fixed rate of return. Saving awareness is an objective of Recurring Bank Account. The customer can open the account directly. And also the bank provides onsite collection of deposit in recurring deposit scheme through collection agents. The scheme provides maturity period from 1 year to 10 year.
Key Features & Benefits:
Regular Savings Made Easy - Save a fixed amount regularly
Doorstep Collection - Bank staff collects deposits from your home/shop
Attractive Interest Rates - Same as regular RD schemes
Low Minimum Deposit - Start with as little as ₹10 per day
Flexible Tenure - Choose from 6 months to 10 years
No Need to Visit Branch - Ideal for busy or remote customers
Safe & Secure - Proper receipt issued for each collection
Loan Facility Available - Against deposit balance (up to 80–90%)
How It Works:
Open an RD Account with your preferred deposit amount and term.
Choose your collection frequency – daily, weekly, or monthly.
Our bank’s authorized collector visits your location to collect deposits.
At maturity, you receive the total amount + interest earned
Documents Required:
Aadhaar Card / Voter ID
PAN Card (if available)
Passport-size Photograph
Proof of address and identity
Introduction/reference (if required by bank policy)
Important Notes:
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Always collect an official receipt at the time of each deposit.
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Notify the bank if you miss any collection days.
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Interest is compounded quarterly.
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TDS may apply if interest income exceeds applicable limits.
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Premature withdrawal reduces interest payout.