Make Savings a rewarding Recurring habit

The Pondicherry Co-operative Urban Bank’s Recurring Deposit scheme will allow you with an opportunity to build up your savings through regular monthly deposits of fixed sum over a fixed period of time

Salient Features:

• Easy way of paying monthly instalment by providing a one time standing instruction from your Savings Account.
• An investment as small as Rs.100/-

• A minimum tenure of one year upto a maximum tenure of five years
• All resident individuals are eligible.
• Get interest rates equal to that of regular Fixed Deposit.
• TDS is not applicable on the interest earned by Recurring Deposit as per Income Tax Rules.
• The amount of instalment once fixed cannot be changed.
• Interest compounded ever quarter.
• Closure before maturity as per the procedure followed for Fixed Deposits.
• Loan against deposit permissible upto 85%.
• Nomination facility available.
• Senior Citizen get an extra benefit in the interest rate (0.5% extra)

Documents Required:

1. Passport size photograph,  2. Proof of residence & 3. An intruduction as per bank’s norms.