(09:30 AM to 05:30 PM)

ಹನುಮಂತನಗರ ಸಹಕಾರಿ ಬ್ಯಾಂಕ್ ನಿ.

THE HANUMANTHANAGAR CO-OP. BANK LTD

Hanumanthanagar, Bangalore-560019

Recurring Deposit

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Recurring Deposit

(QUARTERLY) Interest compounding :
Moneys invested in this type of deposit provide the accrued interest at the end of term of the deposit only, which will be calculated on quarterly compounding basis. The maturity proceeds will be paid by crediting depositor’s individual savings/current accounts or by way of Banker’s cheque/pay order.

Benefits

Facility :
• Attractive Rate Interest compare to Commercial Banks.
• Nomination facility is available for individual accounts.
• Loan facility up to 85% on the face value of the deposit will be allowed.
TDS:
• Interest amount exceed Rs.40,000/- in a FY TDS will be deducted for General.
• Interest amount exceed Rs.50,000/- in a FY TDS will be deducted for Senior.


Pre-requisites

(Form 15G for General & Form 15H for Senior Citizen to be submitted for TDS Exemption)

 

 

The deposits can be opened in the name of Individuals (singly or jointly), Minor by guardian. RD is a special type of deposit account which enables a depositor particularly in fixed income group to save by paying into the account an agreed fixed sum of money monthly over a stipulated period.
The deposits in this type of account earn compound interest on quarterly basis and longer the period for which monthly deposits are agreed to be made higher is the rate of interest.