Recurring Deposits

WELCOME TO SADBHAV NAGRIK SAHKARI BANK MARYADIT CHHATARPUR

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. 46 Days to 179 Days -

3. 180 Days to 210 Days -

4. 211 Days to less than 1 Year -

5. 1 Year to Less than 2 Years 5.00%

6. 2 Years to Less than 3 Years 5.10%

7. 3 Years to 5 Years 5.30%

8. 5 Years to 10 Years 5.40%

Recurring Deposit Interest Rates for Senior Citizens are as follows:

S.No.	Tenure	Interest Rate
1.	7 Day to 45 Days	-
2.	46 Days to 179 Days	-
3.	180 Days to 210 Days	-
4.	211 Days to less than 1 Year	-
5.	1 Year to Less than 2 Years	5.50%
6.	2 Years to Less than 3 Years	5.60%
6.	3 Years to 5 Years	5.80%
7.	5 Years to 10 Years	6.20%

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