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

Variable Recurring Deposit

Variable Recurring Deposit

Interest Application

  • Quarterly compounding

Salient Features

  • A recurring deposit scheme with the option of varying the monthly installments is called the Variable Recurring deposit scheme

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.

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 applicable