Who can open?

Any adult individual singly or jointly with one or two other adults.
Minor's accounts can be opened through guardians.

Minimum amount

Monthly USD 100 or Equivalent

Maximum amount

Any amount in multiples of USD 100 or equivalent

Maturity period

12/24/36/48/60 months

Interest Rate:

The interest paid varies as declared by the bank at the time of contract.

Transferability

Transferable from one office to another.

Other Condition

A penalty @10% of instalment amount per month is to be paid in any default of over one month along with arrear of instalments. If continuously 3 instalments are defaulted then the Recurring Deposit shall be termed as irregular and no further instalments shall be accepted unless the same is regularised first by paying arrear instalments and penalties thereon and authorisation is obtained from the Branch Manager.