National Toll Free No1800 425 00 000
 
National Toll Free No1800 425 00 000

Insured Recurring Deposit

Insured Recurring Deposit

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 Amt

  • Rs.100

Max Amt

  • Rs.1000000

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 under 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