Recurring Deposit (Cumulative Term Deposit) : |
| The Recurring Deposit Account is an account where an investor deposits a fixed amount of money every month. The scheme is meant for investors who want to deposit a fixed amount every month for a specific period of time not less than one year. Since the interest will be accumulated to the principal amount every quarterly, the depositor can expect a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis. |
Cumulative Term Deposit (CTD) | ||
|---|---|---|
Period Of Deposits | Genaral | Senior Citizens |
| 12 Months & 35 Months | 7.50% | 8.00% |
| 36 Months & Above | 7.75% | 8.25% |
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