THE PONDICHERRY CO-OPERATIVE URBAN BANK LTD.,
Registration No - P-14, Address : No. 197, Jawaharlal Nehru Street, Puducherry - 605 001
 
 

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.