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Adarsh Recurring Deposit

Recurring Deposit (RD) accounts let members deposit a fixed installment every month on which they earn a cumulative return (Yearly Compounding) on maturity. Adarsh provides interest rates on the tenure of the 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
4810.505,929.00
6011.007,919.00
7211.0010,061.00

Interest rates effective from May 03, 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 and a maximum tenure of 6 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 – 10.50% Yearly Compounding
  • 5 Years – 11.00% Yearly Compounding
  • 6 Years – 11.00% Yearly Compounding

Is there any facility for prematurity in Recurring Deposit?

Members can premature this deposit as per followings rules:-
(A)RD 01 Year

  • <= 6 months → Not allowed
  • > 06 to 09 months → Allowed without interest, deduction of 2% service charge and Rs. 30/- stationary charge
  • > 09 to 12 months → Allowed with 3% interest, deduction of Rs. 50/- stationary charge

(B)RD 02 Years

  • <=12 months → Not allowed
  • > 12 to 18 months → Allowed with 2% interest
  • > 18 to 24 months → Allowed with 3% interest

(C) RD 03 Year

  • <=18 months Not allowed
  • > 18 to 24 months → Allowed with 2% interest
  • > 24 to 36 months → Allowed with 3% interest

(D) RD 04 Year

  • <=24 months Not allowed
  • > 24 to 36 months → Allowed with 2% interest
  • > 36 to 48 months → Allowed with 3% interest

(E) RD 05 and 06 Year

  • <=36 months → Not allowed
  • > 36 months → Allowed with 3% interest

Is there any facility for loan in RD?

Loan facility is available as per following rules:-
(A) RD 01 and 02 Year

  • <=6 months → Not allowed
  • >06 months and 06 installments → Member can avail maximum 60% loan against their investment amount; interest rate will be applicable as per rules of the Society

(B) RD 03 and 04 Year

  • <=12 months → Not allowed
  • >12 months and 12 installments → Member can avail maximum 60% loan against their investment amount; interest rate will be applicable as per rules of the Society

(C) RD 05 and 06 Year

  • <=24 months → Not allowed
  • >24 months and 24 installments → Member can avail maximum 60% loan against their investment amount; interest rate will be applicable as per rules of the Society

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?

If a member skips installments, it will attract a penalty at Rs. 1.50/Rs. 100/Month.