RECURRING DEPOSIT

 

Open Recurring Account with us and Save a fixed amount regularly

Recurring Deposit accounts are good for salaried account holders or for those having a fixed income every month. The depositor can select the monthly instalment as per his monthly surplus and opt for a tenure and maturity amount that matches an expected funds requirement in the future.

 

TERM DEPOSIT INTEREST RATES (w.e.f.  01.07.2020)

 

Term deposits General Public Sr. Citizen Bulk
7 to 29 days 3.75 3.75  
30 days 4.75 5.00 5.00
31 days to 89 days 4.75 5.00  
90 days scheme 5.25 5.50 5.50
91 days to 180 days 5.25 5.50  
FDR 181 days to Below 1 year 5.50 5.75  
(QRIP) 12 months 6.75 7.10 7.10
MIP 12 months 6.75 7.10 7.10
(MIP/QIP/QRIP) 12 months upto 36 months 6.75 7.00 7.00
(MIP/QIP/QRIP) above 36 months upto 60 months 6.85 7.10 7.10
RD 1 Year to 3 Years 6.75 7.00  
RD above 3 Years to 5 Years 6.85 7.10  
RD above 5 Years to 10 Years 6.25 6.50  
Millennium RD (5 years only) 7.25 7.50  
M1000 days 6.75 7.00 7.00
Model 365 days 6.75 7.10 7.10
Model 500 days 6.75 7.00 7.10
6 months deposit scheme 6.00 6.25 6.25

 

 * Conditions Apply

 

 * KYC Documents such as Residence Proof, ID Proof, PAN Card is compulsory as per RBI Guidelines.

 Rate of Interest for NRE/NRO Accounts:

 NRE Deposits - 1 year to 3 years - 6.75 %
 NRO Deposits - 7 days to 5 years - Same interest as offered on domestic deposits

 

Administrative Office

501, Central Plaza, 166 C S T Road, Kalina, Santacruz (East), Mumbai 400 098.

Tel No: 26656076 / 77  Tele Fax: 26656079

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