Recurring Deposit

Objective

Recurring Deposit – Turn your monthly savings into a secure future.

Looking for a simple and disciplined way to grow your savings without affecting your monthly budget? A Recurring Deposit (RD) lets you deposit a fixed amount every month and earn attractive interest over a chosen period. It helps you build a substantial corpus in a regular, systematic, and safe manner, making it ideal for achieving future financial goals.

Tenor for the Deposit

Min. 12 Months to Max. 120 Months.

Eligibility

Existing and New Customers of Puducherry Grama Bank

Interest Rate

Subject to change by the Bank from time to time.
Please refer our Interest Rate Label / visit our nearest branch.

View Interest Rates

Installment for Deposits

In case of delayed/irregular payments of instalments, Penalty is applicable

Salient Features

Nomination facility available

Standing Instructions available for transfer from SB/CA.

Loan Against Deposit (LAD) is eligible.

Prematurity

Premature closure of the Recurring Deposit is permitted, subject to applicable terms and conditions

TDS (Tax Deducted at Source)

Interest on these term deposits shall be liable to tax under the Income Tax Act, The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.

Documents Requirement to open a New Account

Please visit your nearest branch with required KYC documents (Officially Valid Documents for Identity and Address Proof)