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OGB Recurring Deposit
 
  Recurring Deposit

  • Recurring Deposit allows you to build up a sizable capital over a period, in a regular, systematic and safe way. Please visit your nearest OGB branch for opening of Recurring Deposit.
 
  Minimum balance

Rs.100 or multiple of Rs.100.No ceiling on maximum amount.
 
  Eligibility
• Individuals
• Individuals jointly with other Individuals
• For minor individual by Guardian
• HUF
• Sole proprietary concerns
• Firms
• Joint stock companies
 
  Features & Benefits
• Minimum Rs.100/- per month (in multiples of Rs.100/-). No ceiling on maximum amount.
• Deposit can be opened for period ranging from 1 year to 10 years.(In multiples of 3 months)
• Standing instruction facility will enable automatic transfer of instalment amount from your savings account.
• Earn Interest at Cumulative Fixed Deposit rates, compounding quarterly.
• Premature closure is allowed at any point of time
• Loan facility is available for Recurring deposit up to 90% of the amount present in your deposit account.
• TDS applicable as per the extant IT guidelines.
• Nomination facility available.
 
 
For further details, contact the nearest Branch