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Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate. In recurring deposit account certain fixed amount is accepted every month for a specified period and the total amount is repaid with interest at the end of the particular fixed period.

Features of Recurring Deposit Account:
  1. The main objective of recurring deposit account is to develop regular savings habit among the public.
  2. The period of deposit is minimum six months and maximum ten years.
  3. The rate of interest is higher. Click here for current interest rates.
  4. No withdrawals are allowed. However, the bank may allow to close the account before the maturity period.
  5. Recurring deposit account holder can get a loan facility
Required Document for Recurring Deposit Account:
  1. Identity Proof (Passport / Voter ID / PAN Card / Driving License).
  2. Address Proof (Electricity Bill / Telephone Bill / Bank Ac Statement / Ration Card / Gas Connection Receipt / Salary Slip).
  3. Passport size photographs.
  4. Introduction by an existing Bank customer. If needed.
  5. Recurring deposit account holder can get a loan facility

How to Apply:

Click here for download Recurring Deposit Account Opening form and contact your nearest branch of Udham Singh Nagar District Co-op. Bank Ltd along with all required documents.

Note: There are nominee details necessary for all deposit accounts.

Note: In Recurring Deposit, there is a penalty on late deposit Rs 2 per Rs 100 per month (Fix).