Utkarsh Small Finance bank Recurring Deposits

                                       

                                            Utkarsh Small Finance bank

                                               

                                                Recurring Deposits

Become future ready with Utkarsh Small Finance Bank! A Recurring Deposit is just like your personal piggy bank, but the one that lets you avail higher returns with a host of benefits. Now invest your monthly surplus in our Recurring Deposit scheme and give your funds a steady growth. To help you get started, we accept investment amount as small as 100.

Benifits : -

1. An individual can make a joint Recurring Deposit Account.
2. Higher interest rates
3. The quarterly compounded interest makes you reap the most out of the scheme.
4. No limit or restriction on maximum investment
5. Choose a tenure between 6 months to 10 years

You are eligible for a Recurring Deposit Account if you belong to any one of the following categories.

1. Hindu Undivided Families
2. Sole Proprietorship Firms
3. Partnership Firms
4. Limited Companies
5. Trust Accounts

                                                             How to apply

1. Kindly visit your nearest Utkarsh Small Finance Bank Branch to open a Recurring Deposit Account.

Note:  Minimum tenor of the deposit offered would be seven days.
  Penalty on premature withdrawal is 1 % (not applicable for closure within 7 days) i.e. 1 % less than the card rate as on the date of deposit, for the period for which the deposit has remained with the Bank or 1% less than the contracted rate, whichever is lower.
  Interest rates are subject to change from time to time. Deposits will be booked post receipt of clear funds with the Bank at applicable interest rate as on the date of receipt of funds
 Above rates are applicable for fresh fixed deposits as also for renewal of existing fixed deposits
.  Interest earned will be subject to Tax Deducted at Source as per Income Tax Act and Rules.
  For Term Deposits with tenure below 181 days, interest will be calculated on maturity on Simple Interest basis.
  Interest on Term Deposit can be paid for a period of less than a quarter (monthly pay-out) at the discounted interest rates as per RBI directives.
  No interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit.
  Recurring Deposits amount should be in multiple of Rs. 100 only.
  Tenure of RD should be in multiple of 3 months.
 For interest rates of bulk deposits (Rs. 2 Crore and above), please contact the nearest Utkarsh Small Finance Bank Branch.