Recurring Scheme
This scheme is been introduced for monthly saving where you can deposit a certain amount specified period by the bank. Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
Along with this we have various schemes of deposit like Fixed Deposit Monthly Interest Scheme, Quarterly Interest Scheme, Half Yearly Interest Scheme,
Minimum Amount of deposit: 100 & in multiples of 100/-
Period : Min-12 Months & Max-120 Months
Facilities Offered:-
Monthly Standing Instruction are accepted. (For installment credit)
Installment credit through ECS facility is all offered.
Loan against Recurring account is granted as per prevailing rules.
Term Deposit Schemes
Rajarshi Shahu Sahakari Bank offers following schemes to its customers:-
Monthly Deposit Scheme
• Interest amount will be paid Monthly.
• Interest will be paid in cash or credited to the customers Bank Account through ECS / Pay Order/ NEFT.
Quarterly Deposit Scheme
• Interest amount will be paid Quarterly.
• Interest will be paid in cash or credited to the customers Bank Account through ECS / Pay Order / NEFT.
Half Yearly Deposit Scheme
• Interest amount will be paid Quarterly.
• Interest will be paid in cash or credited to the customers Bank Account through ECS / Pay Order / NEFT.
Under this scheme customer can invest a certain amount for a given period and amount is paid on maturity with interest on quarterly compounding basis. This is the most common form of deposit.
• Individual/Two or more persons in their joint names.
• Co-operative Societies, Registered Trust, Institutions and Associations etc.
• By a natural guardian
Notes for All Schemes
- Rate of Interest: As per RBI directive & Bank’s policy.
- Premature withdrawal: Allowed subject to prevailing bank rules.
- Renewal: At prevailing interest rates if overdue period ≤ 14 days from maturity; otherwise, interest as per Savings Bank rate if renewed for minimum period.
- Loan against Term Deposite: Available immediately as per rules.
- TDS: Applicable as per rules.
*Condition apply.
Sr. No. | Period | General | Senior citizen | Co-operative Society |
1 | 1 days to 14 days | 3.00% | 3.00% | 3.00% |
2 | 15 days to 28 days | 3.00% | 3.00% | 3.00% |
3 | 29 days to 90 days | 4.00% | 4.50% | 4.50% |
4 | 91 days to 180 days | 4.50% | 5.00% | 5.00% |
5 | 181 days to 365 days | 4.50% | 5.00% | 5.00% |
6 | Saving account | 3.00% | ||
7 | Above 12 Months to 36 Months | 7.60% | 7.85% | 8.00% |
8 | Above 36 Months | 7.00% | 7.50% | 7.50% |
