12-Jan-2025   
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Recurring Acount
ELIGIBILITY
  • Saving account is compulsory.
  • Any Resident Individual - Single Accounts.
  • Two or more individuals in Joint Accounts,(maximum 4 persons***)
  • Illiterate Persons
  • Visually Impaired Persons
  • Minors
  • Associations, Clubs, Trusts, Institutions/Agencies, Partnership firm, Private limited companies, Proprietory concerns.
FEATURES
  • Monthly installments can be for any amount starting from as low as Rs.100/- onwards.
  • An account can be opened for any period ranging from 12 months to 60 months.
  • The installment amount selected at the start of the scheme will be payable every month.
  • The number of installments once selected, cannot be altered.
  • The maturity amount will be paid at the time of maturity date.
  • Provision for nomination.
Initial deposit for opening Reccuring Account: Rs.100 onwards.
RATE OF INTEREST
Interest @ 7 % p.a. from 1 to 3 years, are being calculated on monthly product basis for one year and will be credited at the time of closing the Account.
PASS BOOK
Pass book will be given to every recurring bank depositor with recurring account number with his/her name and address and all transactions with date,balance and vice-versa.
DOCUMENTS REQUIRED FOR OPENING AN ACCOUNT
  • Two copies of latest color photographs.
  • Proof of residence (passport, driving license, ration card, voters card, electricity bill, aadhar card etc.)
  • Photo Identity Proof.
  • Introduction by person known and acceptable to the patsanstha.
  • Permanent Account Number (PAN) with original for verification.
  • Initial deposit in cash.