2023 2024 Student Forum > Management Forum > Main Forum

 
  #2  
11th June 2015, 04:35 PM
Super Moderator
 
Join Date: Apr 2013
Re: State Bank of India Recurring Deposit

Here I am providing the Terms & Conditions of the State Bank of India Recurring Deposit which you are looking for.

• Monthly Rs. 100/- no maximum. b) Deposit in Multiple of Rs.10/-
• Rate of interest as applicable to Banks TDR / STDR for the period of the RD
• Premature withdrawal allowed at 0.5% below the rate applicable for the period the deposit has remained with the Bank
• Minimum period 12 months maximum 120 months
• Loan / Overdraft facility available against the balance in RD account
• Penalty charges for non-Deposit of monthly instalments:
• No Cheque Book / ATM Card will be issued
• Passbooks are issued
• Nomination facility available
• For a/c of period 5 years and less --Rs. 1.50 per Rs. 100/- per month
• For a/c of period above 5 years- Rs. 2.00 per Rs. 100/- per month
Key features-
Monthly deposits of Minimum Rs.100/- no maximum.

Minimum period 12 months maximum 120 months.

Loan / Overdraft up to 90% available against the balance in RD account.

Rate of interest as applicable to Banks TDR / STDR for the period of the RD.

TDS is not applicable.
  #3  
2nd December 2015, 09:29 AM
Unregistered
Guest
 
Re: State Bank of India Recurring Deposit

Hii sir, I wanted to know about the Recurring deposits scheme of the State bank of India ?
  #4  
2nd December 2015, 09:30 AM
Super Moderator
 
Join Date: Apr 2013
Re: State Bank of India Recurring Deposit

As you asking for the State bank of India Recurring deposit scheme of the Recurring Deposit is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time.

Features:
Monthly deposits of Minimum Rs.100/- and in multiples of Rs 10/- No maximum.

Minimum period 12 months maximum 120 months.

Rate of interest as applicable to Bank's TDR / STDR for the period of the RD.
Loan / Overdraft up to 90% available against the balance in RD account.
TDS is applicable. Premature withdrawal allowed and for this, rules for TDR/STDR is applicable.

Nomination facility available and it is advised to avail of the facility.
Passbooks are issued

Terms and conditions :
Penalty charges for non-Deposit of monthly instalments:
For a/c of period 5 years and less --Rs. 1.50 per Rs. 100/- per month
For a/c of period above 5 years- Rs. 2.00 per Rs. 100/- per month
Instructions for disposal of maturity proceeds are accepted at the time of opening of accounts.


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