Recurring Deposits: General Scheme

A basic saving plan, which helps you regulate your savings and reap its benefits from time to time. Also avail up to 90% of the deposit amount by way of loan/overdraft.

Key Benefits

1. Regularises savings by encouraging a saving habit.
   
   
2. Loan/Overdraft facility up to 90% of the deposit amount.
   
   
3. Provision for nomination.

Terms & Conditions

1. Minimum amount required to open an account - Rs. 50/- (rural and semi-urban) and Rs. 100/- ..
   
   
2. Subsequent deposits in multiples of - Rs. 50/- (rural and semi-urban) and Rs. 100/-.
   
   
3. Deposit Tenure:
   
   

• # Minimum - 12 months.
• # Maximum - 120 months.
  
  
• 4. Interest will be compounded quarterly and paid on maturity
  
  
• 5. On pre-matured withdrawal of your deposit amount, interest will be calculated at 1% below the rate applicable for the period of deposits.
  
  
• 6. Documents required:
  
  
  • # As per Annex-I.
  • # IT Declaration (Form 60/61)
• 7. Nomination facility available.

8. KYC Norms.

For more information on General Recurring Deposit Scheme, contact our nearest Nainital-Almora Kshetriya Gramin Bank.