Recurring Deposits

Open an Account with Sadbhav Bank, please visit the bank near Dak Khana Mahal Road Chhatarpur Madhya Pradesh

SADBHAV NAGRIK SAHKARI BANK MARYADIT

Recurring Deposits

A Recurring Deposit is a special kind of term deposit offered by Indian banks which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits.It is similar to making fixed deposits of a certain amount in monthly installments. This deposit matures on a specific date in the future along with all the deposits made every month. Recurring deposit schemes allow customers an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period of time.

In a recurring deposit scheme, the investor deposits a set amount every month over a predefined tenure which generally varies between one year to five years. The recurring deposit scheme has one major differentiating point when compared to fixed deposits - in a fixed deposit scheme, the investor has to deposit a lump sum once and leave it untouched for a period of time. So, people who do not have a lump sum or people who are looking to invest a set amount every month usually prefer Recurring Deposits. The principal amount deposited is returned at the end of tenure along with the interest.
Want to Open a reccuring deposit: Visit your nearest branch in Chhatarpur.

Benefits of fixed deposit are as follows:

Useful for Planning Short term Goals

Ease of Investment

Documents and details required for Opening the Recurring Deposit in the Bank are as follows:

Aadhar Card

Pan Card

Voter Id

Three (3) Passport Size Photo

Mobile Number

E-mail Id

Nominee

Nominee Age or Date of Birth

Recurring Deposit Interest Rates are as follows:

S.No. Tenure Interest Rate

1. 7 Day to 45 Days 2.90%

2. 46 Days to 179 Days 3.90%

3. 180 Days to Less than 1 Year 4.40%

4. 1 Year to Less than 2 Years 5.20%

5. 2 Years to Less than 3 Years 5.20%

6. 3 Years to 5 Years 5.45%

7. 5 Years to 10 Years 5.50%

S.No.	Tenure	Interest Rate
1.	7 Day to 45 Days	2.90%
2.	46 Days to 179 Days	3.90%
3.	180 Days to Less than 1 Year	4.40%
4.	1 Year to Less than 2 Years	5.20%
5.	2 Years to Less than 3 Years	5.20%
6.	3 Years to 5 Years	5.45%
7.	5 Years to 10 Years	5.50%

Recurring Deposit Interest Rates for Senior Citizens are as follows:

S.No.	Tenure	Interest Rate
1.	7 Day to 45 Days	3.40%
2.	46 Days to 179 Days	4.40%
3.	180 Days to Less than 1 Year	4.90%
4.	1 Year to Less than 2 Years	5.70%
5.	2 Years to Less than 3 Years	5.70%
6.	3 Years to 5 Years	5.95%
7.	5 Years to 10 Years	6.00%

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