Recurring Account

The Banaskantha District
Central Co-operative Bank Ltd.

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Recurring Account

Invest fixed sum of amount on monthly basis in Recurring Deposit and get attractive interest rates.

Recurring Deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after one to five years. The scheme, a systematic way for long term savings, is one of the best investment options for the low-income groups.

In Recurring Deposit scheme, instead of a one-time lump-sum investment, you can make a fixed monthly investment. On maturity, the Bank pays you the invested amount along with interest earned. Thus, you make equal periodic payments, and get it back with interest as a lump-sum at the time of maturity. Fixed monthly installment of Rs.100/- and above can be made for periods ranging from 1 year to 5 years.

Why Recurring Deposit with Us?

The minimum investment in our bank Recurring Deposit Account is Rs 100/-. Anyone can open this account in their personal name. Two or more individuals can open combine account. The bank will provide passbook to depositor and depositor have to take passbook when they come for deposit monthly installment or close account. The bank don't take any commission on monthly installment deposit from depositor.