| Variable Recurring Deposit |
| Interest Application |
| Revaluation of House Property | Quarterly compounding |
| Interest Application |
| Revaluation of House Property | Quarterly compounding |
| Salient Features | A recurring deposit scheme with the option of varying the monthly installments is called the Variable Recurring deposit scheme
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| Min Amt | Initial deposit Rs.25 or in multiples of Rs.25 upto a maximum of Rs. 1 lakh
Can vary subsequent monthly instalment subject to a maximum of Rs. 10 lakhs per month.
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| Min Period | • Minimum period – 12 months and the maximum period – 120 months |
| Other Requirements/Details | • Loan, nomination and foreclosure facilities.
• No penal interest on delayed payment of instalments
• Interest will be paid on the minimum balance between 10th and last day of the month. TDS not applicable
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