Corporation Bank Flexi RD

I am planning to open a bank account and for this I am searching for the good bank which offers best RD Scheme heard about the Corporation Bank. Can you tell me details of Corporation Bank Flexi RD scheme along with other details related to this scheme also provide bank address?

[Shaleen]

Corporation Bank is a public sector banking company headquartered in Mangalore, India.

The bank has pan-India presence with 8,000 functional units comprising 3200 branches, 3200+ ATMs and 4,000 branchless.

Details of Corporation Bank Flexi RD Scheme:

Scheme:

A flexible deposit in which the depositor can save a minimum stipulated amount of money every month for 3 years.
Option to remit up to 10 times of the stipulated monthly installment in a month.
Option to withdraw part of the Deposit at the end of 1st and 2nd year.

Period of Investment

Fixed period of Three years

Amount of Deposit

Minimum: Rs.500/- p.m. and thereafter in multiples of Rs.100/-
No Maximum Limit.

Rate of Interest

The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.

Withdrawals:

On completion of 1st year :-
50% of the accumulated principal

On completion of 2nd year :-
50% of the remaining principal

If no withdrawal is made on completion of first year, One withdrawal at the end of 2nd year up to 75% of the 1st year deposit amount + 50% of 2nd year deposit amount is allowed.

Contact:

Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar
MANGALORE - 575 001
Karnataka, India

Tele: 91-824-2861888
Fax: 91-824-2440964