Quick Links
Adarsh Recurring Deposit

RECURRING DEPOSIT

An Recurring Deposit (RD) account lets member’s deposit a fixed installment every month on which they earn a cumulative return (Yearly Compounding) on maturity. Adarsh provides Recurring Deposit (RD) interest rates depending on the tenure of the Recurring Deposit (RD).

For investment of ₹ 100 per month:

Period (in months)Rate of Interest (in % per annum)Maturity Amount (in ₹)
129.001,259.00
249.502,643.00
3610.004,187.00
4810.005,871.00
6010.507,820.00
7210.759985.00
12011.0021262.00

Interest rates effective from July 01, 2017
*RD products are also available through NACH (National Automated Clearing House)

FAQ

What is the tenure of a Recurring Deposit?

For a Recurring Deposit, there are various tenure available like 1 year, 2 years, 3 years, 4 years, 5 years, 6 years and a maximum tenure of 10 years.

How much is minimum investment amount for RD?

The minimum amount of investment is Rs. 100 for RD and after that in multiples of Rs. 50/-.

How much interest can a member earn in RD?

The interest rate of the product is as follows:-

  • 1 Year – 9.00% Yearly Compounding
  • 2 Years – 9.50% Yearly Compounding
  • 3 Years – 10.00% Yearly Compounding
  • 4 Years – 10.00% Yearly Compounding
  • 5 Years – 10.50% Yearly Compounding
  • 6 Years – 10.75% Yearly Compounding
  • 10 Years – 11.00% Yearly Compounding

Is there any facility for prematurity in Recurring Deposit?

Members can premature this deposit as per followings rules:-

(A) For scheme of 12 months duration:

  • Not allowed upto 6 months
  • No interest payable on prematurity payment after 6 months and up to 9 months. Service charge of 2% and stationery charge of Rs. 30/- will be recovered.
  • For pre maturity payment of accounts after 9 months to 12 months, Interest will be paid at the rate of 3% Simple interest and Stationery charge of Rs. 50/- will be recovered.

(B) For scheme of 24 months duration:

  • Up to 12 months: Pre maturity not allowed.
  • After 12 months up to 18 months: Interest rate at the rate of 2% per annum
  • After 18 months up to 24 months : Interest rate at the rate of 3% per annum

(C) For scheme of 36 months duration:

  • Up to 18 months : Pre maturity not allowed.
  • After 18 months up to 24 months : Interest rate at the rate of 2% per annum
  • After 24 months up to 36 months : Interest rate at the rate of 3% per annum

(D) For scheme of 48 months duration:

  • Up to 24 months: Pre maturity not allowed
  • After 24 months up to 36 months : Interest rate at the rate of 2% per annum
  • After 36 months up to 48 months : Interest rate at the rate of 3% per annum

(E) For scheme of 60 months and 72 months duration:

  • Up to 36 months: Pre maturity not allowed
  • After 36 months: Interest rate at the rate of 3% per annum

(F) For scheme of 120 months duration:

  • Up to 60 months: Pre maturity not allowed
  • After 60 months: Interest rate at the rate of 3% per annum

Is there any facility for loan in RD?

Loan facility is available as per following rules:-

(A) For schemes of 12 months and 24 months duration:
After 6 months (post receipt of 6 installments) : Up to 60% of Deposit amount.

(B) For schemes of 36 months and 48 months duration:
After 12 months (post receipt of 12 installments): Up to 60% of Deposit amount.

(C) For schemes of 60 months and 72 months duration:
After 24 months (post receipt of 24 installments): Up to 60% of Deposit amount.

(D) For scheme of 120 months:
After 60 months (post receipt of 60 installments): Up to 60% of Deposit amount.

Are there any special benefits in rate of interest for senior citizens and women?

No! The rate of interest is fixed in this product so no special benefit is available for senior citizens and women.

What are the charges if a member skips installments on recurring deposits?

Amount of Rs. 1.50 per hundred per month will be recovered if installments are not deposited on regular basis.

AVAIL GREAT Recurring Deposit (RD) INTEREST RATES

Adarsh Credit Co-operative Society offers Recurring Deposit (RD) schemes to our members so that they can save regularly. RD scheme works best for everyone, especially for the our members who are youngsters and regular salaried people as they can cultivate the habit of regular saving. In RD, you have to deposit a fixed amount on a monthly basis for the chosen tenure and at the end of your tenure, you earn a cumulative return (yearly compounding).The minimum term required for our Recurring Deposit scheme is 1 year and maximum 6 years.

In RD, you can make a minimum investment of Rs. 100 and after that, in multiples of Rs. 50. At Adarsh Credit Co-Operative Society, we offer higher RD interest rates. We also allow you to premature your Recurring Deposit as well as to avail the loan (T&C applicable) on the same. Our RD scheme provides you with zero risk and high returns. So open an RD today!

Disclaimer: All the products and services of the Society are exclusively available for members of Adarsh Credit Co-operative Society Ltd. only.