Opening Hours: Monday To Saturday (Except for the 2nd and the 4th Saturday) between 10am to 4pm

OMPRAKASH DEORA PEOPLE’S CO.OP BANK LTD, is registered with DICGC (https://www.dicgc.org.in/)

Recurring Account

Under a Recurring Deposit account (RD account), a specific amount is invested in bank on daily basis for a fixed rate of return. The deposit has a fixed tenure, at the end of which the principal sum as well as the interest earned during that period is returned to the investor. Recurring Bank Account provides the element of compulsion to save at high rates of interest applicable to Term Deposits along with liquidity to access those savings any time. Since a recurring deposit offers a fixed rate of return, it does not provide protection against inflation.
There is great flexibility in period of deposit with maturity ranging from 12 months to 24 months. One can start a Recurring Deposit Account with a daily instalment of Rs. 100/- only. There is no upper limit on investing. The rate of interest varies between 6% and 6.50% percent depending on the maturity period. Loan/overdraft facility is also available against Recurring Bank Deposits.
In case of Recurring Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank. Premature withdrawal is also permissible but penalty is levied. TDS is not applicable on Recurring Deposits.

Interest Rates for Recurring Deposit (W.E.F. 19/01/2023)

Recurring Deposit Rate

Sr No.DurationRate
112 Months6%
213Months To 24 Months6.50%

Senior Citizen 0.50% extra rate Age Above 60

(For More Details Please Visit Our Nearest Branch) T&C Applicable
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