Under these type of deposits, the person has to usually deposit a fixed amount of money every month .
Features of Recurring Deposit
These are best if you wish to create a fund for your child’s education or marriage of your daughter or buy a car without loans or save for the future.
- Depositing a fixed amount per month
- Period of deposit is minimum 1 Year & maximum up to 2 years
- Repayment with interest on maturity date
- Loan can be granted on the accumulated deposit amount
Information
Shivsahyadri Sahakari Patpedhi Ltd. offers Recurring Deposit schemes for those individuals who wish to make investments of a fixed sum of money regularly over a period of time. Offering competitive rates similar to Fixed Deposits, Recurring Deposits give individuals the benefit of spacing their deposit amounts into smaller and more manageable amounts, while still earning through high interest rates.
Documents Required
| Documents | Requirements |
| Documents required for NEW customers | 2 Photographs (Passport size) |
| Xerox copies of the following. Bring originals for verification | PAN – Permanent Account No. allotted by Income Tax Authority |
| Residential Proof ( Any one or more ) | Ration Card Passport Electricity Bill |
| Photo Identification Proof | Passport Election Identity Card Office Identity Card Driving License |
Recurring Deposit
| Period | Interest Rate |
| 1 Year | 9% |
| 2 Year | 9.5% |