PMC Bank deposit - 2017 2018 Student Forum
 

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  #1  
Old 10th August 2015, 11:20 AM
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Default PMC Bank deposit

I want to open an Recurring Deposit account in Punjab & Maharashtra Co-operative Bank Ltd and for that I want to get the details so can you provide me that?
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  #2  
Old 10th August 2015, 11:26 AM
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Default Re: PMC Bank deposit

As you want to get the details of Recurring Deposit account in Punjab & Maharashtra Co-operative Bank Ltd so here is the information of the same for you:

Recurring Deposits Features:

There will be minimum amount of monthly installment is Rs. 100/- and in multiples of Rs. 100/- thereafter.

This account will be for minimum 12 months and thereafter in multiples of 3 months subject to maximum of 120 months.

Monthly installment amounts can not be changed and TDS is not applicable on recurring deposits.

The depositor has not the rights to change monthly installments during the pendency of deposit.

The depositor is required to first pay monthly installments within the next calendar month of opening the account.

The deposit falls due for payment on the same day of opening of the account after a lapse of specified period.

A passbook is given to the depositor for having opened a recurring deposit account incorporating all particulars.

In case pass book is lost, and the depositor requires duplicate pass book, a nominal fee as prescribed by the Central Office from time to time may be is levied for its issue.

Interest Rates:

Period Rate Rate
(For General customers as well as Senior Citizen customers) (For General Depositors w.e.f. 08/06/2015) (For Senior Citizen Depositors w.e.f. 08/06/2015)
7 days to 90 days 6.00 % p.a. 6.00 % p.a.
91 days to 180 days 6.00 % p.a. 6.00 % p.a.
181 days to 270 days 7.50 % p.a. 7.50 % p.a.
271 days to 12 months 9.00 % p.a. 9.00 % p.a.
13 months to 24 months 9.25 % p.a. 9.50 % p.a.
25 months to 36 months 9.25% p.a. 9.50% p.a.
37 months to 60 months 9.25 % p.a. 9.50 % p.a.
61 months to 120 months 8.75 % p.a. 9.00 % p.a.

Recurring Deposits Account Opening Application Form:






Contact Details:
Punjab & Maharashtra Co-operative Bank Ltd
Ground Floor,
MG Complex,
2nd Main Road,
2nd Block,
Rajajinagar
Bengaluru,
Karnataka 560010
India

Map Location:
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  #3  
Old 16th February 2016, 08:53 AM
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Default Re: PMC Bank deposit

Hello sir I wan to know about recurring deposit of PMC bank so here can you please give me details ?
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  #4  
Old 16th February 2016, 08:55 AM
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Join Date: May 2012
Posts: 58,029
Default Re: PMC Bank deposit

Hey as per my idea PMC bank provide various deposits scheme and one of them is recurring deposits

Recurring deposit

Minimum amount of monthly instalment is Rs. 100/- and in multiples of Rs. 100/- thereafter.

The deposit is accepted for minimum period of 12 months and thereafter in multiples of 3 months subject to maximum of 120 months.

Monthly installment amounts can not be changed and TDS is not applicable on recurring deposits.

The depositor cannot change monthly installments during the pendency of deposit.

The depositor is required to first pay monthly installments within the next calendar month of opening the account. Subsequent installments should be paid within next month.

The deposit falls due for payment on the same day of opening of the account after a lapse of specified period. This due date is called ostensible due date ,i.e. the deposit falls due for payment one month after the payment of last installment

A passbook is given to the depositor for having opened a recurring deposit account incorporating all particulars. Payment of subsequent installments is also recorded in the passbook.

In case pass book is lost, and the depositor requires duplicate pass book, a nominal fee as prescribed by the Central Office from time to time may be is levied for its issue.

The depositor can give standing instructions for the transfer of periodical monthly installments from an operative account


Recurring deposit form



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