Recurring Deposits
All You Need to Know About Pune Peoples Bank Recurring Deposits
Recurring Deposits - OVERVIEW
The Recurring Deposit Scheme is an ideal option for those looking to build their savings with disciplined, monthly deposits. This scheme allows you to deposit a fixed amount for a specified period and earn higher interest rates, ensuring a secure financial future.
Benefits
- Encourages regular savings habit.
- Earns higher interest rates compared to savings accounts.
- Flexibility to choose the tenure that suits your financial goals.
- Loan facility available against the deposit.
Key Features
- Minimum Deposit Amount: ₹100 and in multiples of ₹100.
- Tenure: Minimum 12 months, maximum 120 months.
Lakhpati Scheme - OVERVIEW
The Lakhpati Scheme is designed to help you accumulate ₹1,00,000 at maturity through small, manageable monthly installments. Tailored for both general customers and senior citizens, this scheme ensures you reach your financial goals with ease.
Facilities Offered
- Monthly Standing Instructions Lakhpati Scheme: Automate monthly instalments for convenience.
- Loan Facility: Loans can be availed against the recurring deposit as per the bank's prevailing rules.
- Special Interest Rate for Women: Avail exclusive interest rates designed to support women investors.
- Senior Citizen Women Applicants: If eligible for both women’s special interest rates and senior citizen benefits, only one scheme will be applicable, ensuring the best possible return on your investment.
ELIGIBILITY CRITERIA
- Open to all individuals (including senior citizens), businesses, and institutions.
Rate of Interest & CHARGES
Interest Rates
| Sr. | Deposit Type | Period | Rate |
|---|---|---|---|
| 1 | Short Term | 31 Days to 90 Days | 4.00% |
| 2 | Short Term | 91 Days to 180 Days | 4.75% |
| 3 | Short Term | 181 Days to 364 Days | 5.50% |
| 4 | Fixed / Cumulative | 12 Months to 24 Months | 7.50% |
| 5 | Fixed / Cumulative | 25 Months to 36 Months | 7.55% |
| 6 | Fixed / Cumulative | 37 Months to 60 Months | 7.60% |
| 7 | Fixed / Cumulative | Above 60 months to 120 Months | 7.65% |
For Senior Citizens Special Interest Rates
| 1 | Deposits of Senior Citizens (Card Rate + 0.50 ) | 0.50% Extra |
| 2 | Additional Interest Rate on Deposit above Rs. 50 Lakhs for the Period above 12 Months | 0.50% Extra |
| 3 | Additional Interest for Women Depositors for Deposit amount Rs. 2.00 and above for the period of 15 Months & above | 0.10% Extra |
Lakhpati Scheme For General Customers
| Monthly Instalment (₹) | Tenure (Months) | Maturity Amount (₹) |
|---|---|---|
| 560 | 120 | 1,00,842 |
| 1340 | 61 | 1,00,037 |
| 1370 | 60 | 1,00,126 |
| 1780 | 48 | 1,00,016 |
| 2395 | 37 | 1,00,064 |
| 2470 | 36 | 1,00,000 |
| 3685 | 25 | 1,00,008 |
For Senior Citizens
| Monthly Instalment (₹) | Tenure (Months) | Maturity Amount (₹) |
|---|---|---|
| 545 | 120 | 1,00,916 |
| 1325 | 61 | 1,00,262 |
| 1355 | 60 | 1,00,352 |
| 1765 | 48 | 1,00,222 |
| 2375 | 37 | 1,00,033 |
| 2455 | 36 | 1,00,176 |
| 3665 | 25 | 1,00,010 |
REQUIRED DOCUMENTS
Proof of Identity (PoI) And Proof of Address (PoA) :
- Passport
- Voter ID card
- Permanent Account Number (PAN) Card
- Aadhaar Card
Residence Proof :
- Utility bills (electricity, telephone, water, gas) not older than two months
- Property or Municipal tax receipts
Photograph:
- Two passport size photocopy
Documents required for KYC may vary from time to time as per the prevalent regulatory guidelines as well as Bank's internal policy.
All Deposit is covered under DICGC coverage. Click here
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