Recurring Deposits Account

Opening of recurring Deposit Account any member, firm or company approved by the society may open a recurring deposit account for the period of 12, 24, 36, 48 & 60 months in multiples of Rs.100/- per month. More than one account also may be opened in the name of the same person. The society may grant loans on the security of recurring deposit account not exceeding 80% of the balance at credit.

Requirements For Opening Account	The requirements for opening of accounts are the same as mentioned under Savings Accounts.
Minimum Amount	Rs. 100/- per month.
Maturity Period	12 months to 60 months
Interest Rate	1 Year– 8.00% , 2 Year to 3 Year – 7.75%, 4 Year to 5 Year – 7.50% p.a.
Nomination Facility	Available
Loan Facility	loan facility is available against security of balance amount in the account.
Premature Payment	Premature payment is allowed subject to penalty of lower interest.
Other Features	A pass book is issued in Recurring Deposit Accounts. Delayed payment of monthly installments invite penalties. Monthly installment can be deposited by way of standing instruction from Saving Account