Salient features of the scheme :

  • Payment of fixed amount, which is in multiple of Rs.500/-, is made every month.
  • Duration is 1 to 10 years.
  • Rates of interest on Recurring Deposits account are as per rates offered on fixed deposits.
  • Re-payment with interest on maturity date.
  • Loan can be granted up to 90% of the accumulated deposit amount against the pledge of Pass Book in case of need.
  • Minimum amount is Rs.500/-.