Recurring Deposit Account

Objective "Little drops make an ocean". Small deposits every month mature to a sizeable amount to meet any expenditure. A fixed amount to be deposited every month for a particular period - say 1 year, 2 years etc.,
Tenor for the Deposit
  • Min. 6 Months to Max. 120 Months.
  • Existing and New Customers of Tamil Nadu Grama Bank
Interest Rate
  • Subject to change by the Bank from time to time. Please refer our Interest Rate Label / visit our nearest branch
Installment for Deposits
  • Instalments shall be deposited on or before last working day of the month
  • In case of delayed/irregular payments of instalments, Penalty is applicable
Salient Features
  • Nomination facility available
  • Standing Instructions available for transfer from SB/CA.
  • Can be transferred from one branch to another branch of the bank with request from customer at his convenience.
  • Customers can avail Loan facility against their deposit for the Deposit tenor with minimum interest rate as advised in Loans and Advances.
  • The deposit shall mature 30 days/one month after payment of last installment or on due date whichever is later.
  • Premature closure is allowed
TDS (Tax Deducted at Source)
  • Interest on these term deposits shall be liable to tax under the Income Tax Act, The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.
Documents Requirement to open a New Account
  • Please visit your nearest branch with required KYC documents (Officially Valid Documents for Identity and Address Proof)