Himachal Pradesh Gramin Bank Recurring Deposit
Himachal Pradesh Gramin Bank allows you to build up capital over time by making daily monthly deposits of a fixed amount. It provides you with a variety of RD choices, ranging from a minimum of 12 months to a maximum of 120 months. An RD’s maximum deposit volume is unrestricted. When you open your RD account, you must have instructions for the disposition of maturity proceeds. Loans or overdrafts of up to 90% of the deposited amount are eligible. The rate of interest on RDs is the same as that on term deposits. Both Senior Citizens aged 60 and up will be charged at a rate that is 0.50 percent higher than the general consumer rate.
For those with lower incomes, investing in Himachal Pradesh Gramin Bank is a great choice. The advantage of RDs is that you get the same interest rate for the duration of the Recurring Deposit, even though subsequent Recurring Deposit rates are lower.
Recurring Deposit Rates – Special Features
The rate of interest on RDs is the same as that on term deposits. Both Senior Citizens aged 60 and up will be charged at a rate that is 0.50 percent higher than the general consumer rate.
For those with lower incomes, investing in Himachal Pradesh Gramin Bank is a great choice. The advantage of RDs is that you get the same interest rate for the duration of the Recurring Deposit, even though subsequent Recurring Deposit rates are lower.
Himachal Pradesh Gramin Bank Recurring Deposit Schemes Types
- ANUPAM ACCOUNT DEPOSIT SCHEME
- ORDINARY FIXED DEPOSIT SCHEME
- SPECIAL FIXED DEPOSIT SCHEME
- MULTI-BENEFIT DEPOSIT SCHEME
- RECURRING DEPOSIT SCHEME
- HGB SWECHHA JAMA YOJNA (SJY)/FLEXI RD SCHEME
Himachal Pradesh Gramin Bank Recurring deposit interest rate
Interest Rates on Recurring Deposits at Himachal Pradesh Gramin Bank (as of 30 Mar 2021). An account in which the investor is required to deposit a pre-determined amount at regular intervals (usually monthly installments) over a long period of time.
Bank RDs are sold by public sector banks, private sector banks, cooperative banks, multinational banks, and regional rural banks. You are expected to invest in regular increments that are pre-determined (usually monthly). Banks offer a range of tenures and interest rates from which you can select depending on your requirements. The maturity amount is charged, and interest rates are calculated quarterly rather than weekly.
Himachal Pradesh Gramin Bank Recurring Deposit Interest Rates 2021
| Maturity Period |
Interest Rate (p.a.)
|
| Year 1 | 6.40% |
| Year 2 | 6.30% |
| Year 3 | 6.25% |
| Year 4 | 6.25% |
| Year 5 | 6.25% |
Himachal Pradesh Gramin Bank Recurring Deposit Interest Calculator
A pre-specified sum is deposited at periodic intervals on a regular basis in a Himachal Pradesh Gramin Bank Recurring Deposit account, and the term ranges from 6 months to 10 years, with monthly installments of 12, 24, 36, 48, 60, 72, 84, 96, 108, and 120 months.
You can conveniently measure the amount of interest received as well as the maturity amount using the Recurring Deposit calculator below. Please keep in mind that the results of this calculator will only give you a rough estimate of the maturity values; only your bank will be able to tell you the exact amount you will get.
Recurring Deposit Account Opening Process at Himachal Pradesh Gramin Bank
- Himachal Pradesh Gramin Bank Savings Account Documents Needed:
- Sizes of Passports Recent Colored Photographs
- PAN Card Copies/Form 60 (with reasons of not having PAN Card).
- KYC (Know Your Customer) (Know Your Customer) Proof of Identity and
- Proof of Address is necessary documents.
- In the case of minors and senior citizens, proof of date of birth (DOB) is needed.
Duration of Recurring Deposits with Himachal Pradesh Gramin Bank
A pre-specified sum is deposited at periodic intervals on a regular basis in a Himachal Pradesh Gramin Bank Recurring Deposit account, and the term ranges from 6 months to 10 years, with monthly installments of 12, 24, 36, 48, 60, 72, 84, 96, 108, and 120 months.
FAQs
✅ What is the available maximum tenure for a recurring deposit?
10 years
✅ What is the tenure of recurring deposits?
The minimum period of a Recurring Deposit is six months at most of the banks. These deposits can be opened from 6 months to 10 years, depending on the depositor.