Recurring Deposit
Introduction
BDCC Bank's Recurring Deposit scheme will allow you with an opportunity to build up your savings through regular monthly deposits of fixed sum over a fixed period of time. For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
Rate of Interest on Deposits
| Sr.No. | Duration | Rate of Interest |
|---|---|---|
| 1. | 6 days to 45 days | 3.25% |
| 2. | 46 days to 120 days | 4.25% |
| 3. | 121 days to 180 days | 4.25% |
| 4. | 181 days to 365 days | 4.75% |
| 5. | 366 days to 729 days | 5.25% |
| 6. | 730 days to 1094 days | 5.30% |
| 7. | 1095 days to 1824 days | 4.00% |
| 8. | 1825 days to 9999days | 5.50% |
Benefits
- An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 14,99,900 per month
- TDS is not applicable on the Interest earned by Recurring Deposits as per current income tax rules.
- Loan against deposit
- High rates of interest (identical to the fixed deposit rates).
- Nomination facility available.
Documents Required
- Application form
- Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License
- Proof of Address: Latest Telephone Bill or Electricity Bill
- Recent Colour Photograph(3 Nos.)
Terms And Conditions
- Rate of interest as applicable to Bank's TDR / STDR for the period of the RD
- Penalty charges for non-Deposit of monthly installments.