RECURRING DEPOSIT (Fixed Monthly Installment)
PGB Recurring Deposit Scheme
Disciplined Savings for a Secured Future
Deposit Amount
Minimum monthly installment of ₹100/- or more in multiples thereof. No maximum limit.
Period / Tenure
From 6 months to 120 months (10 years), accepted in multiples of 3 months.
Pre-mature Closure
Allowed. Withdrawal before maturity is permitted, subject to applicable penalty charges as per bank policy.
Nomination Facility
Available. Ensure your nominee is registered for easy claim settlement.
Important Scheme Information
- Interest Rate: The interest rate is the same as the rate applicable to a Term Deposit (FD) of the corresponding tenure. Senior Citizens receive an additional benefit (typically 0.60%).
- Interest Compounding: Interest is compounded quarterly, ensuring maximum benefit from the compounding effect.
- Penalty on Default: A penalty is typically charged for late or missed monthly installments.
- Loan Facility: Loan or Overdraft facility is usually available against the deposit balance (e.g., up to 90% of the deposited amount).
For more information, the Current Applicable Interest Rates, or any query related to the scheme, kindly visit your nearest PGB branch.