Recurring deposit account

Recurring deposit account

Members can open a Recurring Deposit (RD) account in their name by submitting an application. To participate, the account holder must already be a member of the Compulsory Deposit scheme.

Under this scheme, a member deposits a fixed amount for a specified period. The minimum deposit is ₹50, while there is no maximum limit. Members can choose a period of at least 12 months or longer, depending on their savings goals.

The account earns interest ranging from 6% to 9.75%, which varies based on the deposit amount and tenure. This scheme encourages regular saving and helps members plan for future financial needs.