|Eligibility||RD account holders of the age group 18 to 55 years as on the date of opening.
|Salient Features||A recurring deposit with low cost life insurance cover.
|Min Period||3 years
|Max Period||5 years
|Other Requirements/Details||* Maturity value is the normal maturity amount less premium amount paid by the bank towards the insurance cover uder this scheme.|
* Customer need not pay premium upfront. The premium is paid by the bank and recovered from interest accrued at the time of maturity/premature closure. For a sum instured of Rs.1000, the premium is Rs.3.84 per annum on a diminishing basis.
* Rs.10 lakh is the maximum cover available under this scheme.
* No medical check-up is required for the RD account holders irrespective of the age. A simple declaration of Good Health (DGH) is sufficient.
* No preferential rate of interest will be given to Senior Citizens.
* Nomination Facility Available