1) Recurring account can be open with minimum of Rs. 500 and in multiple of Rs.100.
2)Interest calculation yearly compounding rate of interest.
3) Defaulters will be charged at the rate of 2% per month instalment with a maximum period of three months. After this the total deposited amount will be paid back to the investor after the lock in period with the following rate of interest: 0 to 6 months - no interest, 7 to 11 months @4.5% p.a., 12 to 18 months @5% p.a., 19 to 24 months @5.5% p.a., 30 to 59 months @6% p.a.
4) The monthly deposit of installment will attract a grace period of 07 days, after which the RD will be considered as an irregular account and will attract late fee.
5) Irregular account cannot ask for premature payment, irregular accounts will not attract the above mentioned interest amount.