Our Recurring Deposit enables our customers to save a small amount every month regularly to plan and meet a future expense easily.
Recurring Deposit can be opened with a nominal amount for a period of 12 months to 60 months as per the requirement of the customer. Interest on the deposit is the same as the prevailing interest rate on Fixed Deposit for a similar period.
Interest is calculated and credited to the Recurring Deposit once every six months and the same is paid along with the principle amount upon maturity of the deposit. Recurring Deposit also enables the customer to raise loan which will be 90% of the accumulated Deposit and accrued interest as on date.
The loan is to be repaid on or before the maturity of the Recurring Deposit. The Recurring Deposit with our bank comes with host of facilities for our account holders.
To know more, visit any of our branches today or email is on ao@mogaveerabank.com
