Recurring Deposit is a special kind of Term Deposit offered by JAN UTKARSH NIDHI LIMITED which help members with regular incomes to deposit a fixed amount in every month into their Recurring Deposit account and earn interest at the rate applicable.
Tenure of payment:
The tenure of the account 12 months and above.
Mode of payment:
All payments to the company shall be made either in cash or by cheque. Member can directly
deposit at Branch or Bank’s Advisor of your area will collect for your door-step.
Issue of pass book:
A pass book will be issued to every member of account holder. The member account holder
shall get the pass book updated at regular intervals. If any discrepancy or differenced in the
amount is found between the entries made in the passbooks and receipts duly counter signed
by the authorized signatory of the branch office bearing seal. Payment shall be made on the
basis of receipts only.
Recurring Deposit Features & Benefits:-
- The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure.
- Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
- Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.
- A minimum FD would be of Rs.500 and further in multiple of Rs.500.
- Interest calculation shall be on monthly basis compounding.
- The tenure of the account 12 months and above.
- Earn high rate of interest on your savings.
- Quick and hassle free service at door-step to all members.
- Nomination facility available for deposits. There can be only one Nominee for a deposit
account whether held singly or jointly. Applicants can make nomination by filling up the
prescribed form. The nomination details can be changed during the subsistence of the
account relationship by filling up the prescribed form.
- Minimum lock-in period and pre-closure charges.
Loan Facility on Recurring Deposit
Member can avail loan facility after successfully payment of all installment during last 6 month
of scheme. Rate of interest shall be linked to the rate of interest offered to Recurring Deposit .
For more details kindly visit to branch or get touch with any bank’s advisor of your area.
| SNo. | Plan Type | Minimum Instalment | ROI(%) | Maturity Amount(Rs) |
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