Allow every customer to save money on regular basis. This is one basic yet impactful way of saving money.
Min and Max Amount : An RD can be created with a minimum investment of Rs.100 per month. The maximum limit for monthly investment is Rs.1,50,000/-.
ROI : ROI for RD depends upon the tenure of the RD. Usually it is always greater than the savings account ROI.
Tenure : RD can be created for a Minimum tenure of 12 Months and Maximum tenure of 120 months.
Availability : RD can be created at any TBSB branch.
If you wish to create an RD and start the process online, you can also fill up this form and we will conncet with you for further details.
Eligibility : Every Indian resident can create RD with TBSB.
Minimum age for an individual to create an RD is 18 years.
Any minor account holder can also create RD, jointly with an adult.
HUF, Businesses, tRust and other entities can also create RD with TBSB.
Nomination : Nomination facility is available for every RD created with us. We suggest to have a nomination for every deposit created with TBSB.
Secured under Insurance : Every deposit created with TBSB is insured and secured with Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly owned subsidiary of the RBI.
Special benefit : RD makes it easy for every RD holder to save a specific amount regularly.
Small savings every month turn into a considerable amount post one year.
Loan facility can be availed by the deposit holders, which helps them to leverage financially and pay back with ease.
Loan facility : RD holder can avail loan facility on the RD at affordable rates.
TDS : As proposed in the financial budget of 2015, TDS is applied to the interest on recurring account.
Premature withdrawal : Premature withdrawal of the RD is allowed but it attracts penal interest. We suggest, unless extremely essential, any deposit should not be withdrawn prematurely.
Show case financial planning based on Goals : Things which you plan to buy in future, can be bought easily with RD.
A phone worth Rs.40,000. Save Rs.3,500 per month in RD and in one year, you will have Rs.42,000 saved + Interest earned on the same.
Pay insurance premium with RD - If you have Insurance around Rs.60,000 as an insurance payment in a year, then you can plan to save Rs.5,000 per month in TBSB RD and post one year you will have Rs.60,000 saved + interest earned on the same.
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