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Last Updated on 08/11/2019
Flexi RD

Eligibility: Individuals either singly or jointly with two or more persons, institutions, companies, firms, societies, Traders, Professionals, salaried individuals etc.

Minimum & Maximum Amount: The scheme has core amount as deposit. Minimum core amount is Rs. 1000/- per month - Maximum core amount is Rs. One lac per month. Monthly installment will range between the core amount and 10 times of the core amount in multiples of Rs. 100/-.

Special Feature: The depositor has to decide on the minimum amount that he/she would deposit every month and this amount can range from Rs. 1000.00 to Rs. 100000.00 per month (core). No restriction for number of credits in a month subject to the maximum of 10 times of core amount. For Example: If the depositor decides a core amount of Rs. 5000/- per month, the monthly instalment amount that can be remitted can vary from Rs. 5000.00/- to Rs. 50000.00/- in multiples of Rs. 100/-.

Period of Deposit: Minimum - 12 months (and in multiples of 6 months. example 18 months, 24 months etc.) and Maximum - 120 months.

Interest Rate: Interest is paid based on the daily products with rate ofinterest as applicable to Term Deposits

Pre Closure Charges: As applicable

Loan Facility: Up to 90% of the accrued balance on the deposit

Nomination Facility: Available.