• How to open a Recurring Deposit Account:
  A recurring deposit account may be opened for periods of 12 and up to 60 months, in multiples of Rs.100/- per month. More than one account can also be opened in the name of the same person.
• Who may open a Recurring Deposit Account:
  A recurring Deposit may be opened by a person in his or her name (ii) more than one person payable to jointly or to either or any one or more of them or Survivor or Survivors (iii) by a natural guardian,   i.e.father or mother on behalf of a minor in which case the date of birth should be declared at the time of opening of account or by a guardian appointed by Court .
• Terms of deposits:
  The account can be opened on any day in a month. But every subsequent instalment is due for payment by the last day of every calendar month.
• Payment of monthly instalments:
  Every Depositor shall pay the monthly deposit amount before the end of the month. Standing instructions from the Depositor for transfer of monthly instalments from his/her savings Bank or Current accounts till the deposit matures will be accepted by the society and such transfers will be effected by the society, free of the charge. 
• Pass Book:
  Each Depositor will be supplied with a pass book of such deposit in which the payment made in each month will be entered and acknowledged by the officer of the Bank.
• Repayment on maturity:
  Recurring deposit is repayable 30 days after the last instalment is due and paid or after the expiry of the period for which the deposit is accepted, whichever is later.
• Loan on Recurring Deposits:
  The Bank may grant loans on the security of Recurring deposit accounts up to 80% of the amount of deposit including interest occurred on the loan account. Interest will be levied at 2% higher than the rate of interest paid on the deposit.

                                                                                          Terms and conditions apply