Recurring deposit is an ideal deposit scheme and beneficial to salaried class, monthly wage earners and those who are having monthly income for saving a fixed amount every month and obtaining handsome amount at the end of the selected period. This scheme is meant for the low income group wherein small amounts with minimum installment of Rs.100/- paid every month by the subscribers for a fixed period ranging from 12 months to 60 months. The interest payable on this deposit is cumulative (quarterly compounded).
This is a monthly deposit scheme. The interest rate depends on how long a customer keeps investing in that deposit.
