Deposit Schemes

Recurring Deposit Scheme

Gutman Island


People with regular saving habits expecting to earn a fair return on the deposits over a period of time can avail the benefits of our Recurring Deposit scheme. While opening the account, the depositor has to agree to credit a fixed amount once a month for a specific period predetermined at the time of account creation. The total deposit along with the interest there in is payable on maturity. However, the depositor can close the account before its maturity and get back the money along with the premature rate of interest till that period. The account can be opened by a person individually or jointly with another, or by the guardian in the name of a minor.


Sr. No. Monthly Deposit 1 Year Interest 10% 2 Year Interest 11% 3 Year Interest 12% 4 Year Interest 12.50% 5 Year Interest 13%
1. Rs 200/- Rs 2,583/- Rs 5,384/- Rs 8,685/- Rs 12,468/- Rs 16,896/-
2. Rs 300/- Rs 3,800/- Rs 8,976/- Rs 13,027/- Rs 18,702/- Rs 25,344/-
3. Rs 500/- Rs 6,325/- Rs 13,375/- Rs 21,350/- Rs 30,125/- Rs 39,912/-

Key Features

  1. Short Deposit Scheme : Makes for your quality life.
  2. Customer Care : Our Customer Care is always available to answer any query or follow your instructions.
  3. Standing Instructions : You can give us various types of standing instructions like transferring of funds to fixed deposit accounts at regular intervals.
  4. Nomination Facility : You may nominate a person as beneficiary to your account proceeds
  5. Liquidity : You may liquidate your account pre-matured by incurring a nominal charges for pre-matured liquidation
  6. Loan Facility : Avail up to 85% loan on your fixed deposit amount


  1. Nomination facility is available in all kind of deposits.
  2. For single or joint account holder also there will be only one Nominee.
  3. A person legally empowered to operate a minor's account can file a nomination on behalf of the minor.
  4. Applicants can make nomination by filling up the prescribed form.
  5. The nomination details can be changed during the subsistence of the account relationship by filling up the Form prescribed.
  6. For more details or query do visit your near by branch.

Document required for Account opening

For Identity Proof For Address Proof
PAN Card Two Photos
Passport Aadhaar Card
Aadhaar Card Telephone bill
Voter ID card Electricity bill
Driving licence Ration Card
Government ID card Certificate/ ID card issued by Post office
Photo ration card
Senior citizen ID card


  1. The form should be fill in CAPITAL LETTERS using Black ink.
  2. During the time of verification please produce the original document(s).
  3. Please avail of the nomination facility.
  4. Mandatory to complete the KYC Norms.
  5. * Mandatory to provide Permanent address and telephone number.