Vijaya Bank Recurring Deposit – Get information about Vijaya Bank Recurring Deposit Interest Rates, Vijaya Bank RD, Vijaya Bank RD Interest Rates, Benefits.
Vijaya Bank is one of the major bank offering a variety of schemes under Recurring Deposit. For a regular scheme the deposit period ranges from 6 months to 10 years in which the standing instruction for transfer of monthly installment from SB account to RD account.
- An individual in his/her own name
- More than one individual in joint names
- A guardian on behalf of minor
- Educational institutions
Vijaya Bank Recurring Deposit Interest Rates
|Tenure||General Rates (% p.a)||Senior Citizen Rates (% p.a)|
|270 days to less than 1 year||6.25||6.25|
|More than 1 year to less than 2 years||6.50||7.00|
|More than 2 years to less than 3 years||6.50||7.00|
|3 years to 5 years||6.50||7.00|
|Above 5 years||6.25||6.75|
However the bank offers several other schemes under RD explained below,
V GENUTH UNNATHI RECURRING DEPOSITS BANK ACCOUNT
- The product is especially built for children and parents to meet the needs of future.
FEATURES AND BENEFITS OF THE ACCOUNT
- Minimum monthly deposit is Rs. 100 and further in multiples of Rs. 50.
- All children upto and inclusive of the age of 18 can open the account.
- The children with age of 10 can open the account in their own names but the children under the age of 10 need to open the minor by guardian’ account.
- Concession of 0.50% (for boys) & 1% (for girls) on the interest rates for education loan is offered for the children maintaining RD account for a minimum period of 5 years.
- No loan will be granted against deposited money.
- The deposit period ranges from 36 months (3 years) to 120 months (10 years).
- Penalty will be charged as per the rules for the delay of installments.
- For default free payments of all installments an additional 0.25% interest will be paid at the end of the tenure period of RD.
V GENUTH UNNATI PLUS RECURRING DEPOSIT
- The schemes was incorporated with the aim of providing higher education for children from day 1 to 18 years.
FEATURES & BENEFITS
- All children who have attained the age of 10 can open the account in his/her own name with the monthly installments fixed.
- Standing instruction for transfer of monthly installments from savings to recurring account will be free of cost.
- Penalty will be levied for premature closure.
- Loan will be provided at 5 times the maturity amount in recurring or fixed deposit. (The account will be converted to fixed deposit account after maturity) subject to a maximum of 10 lakhs & 20 lakhs for education in India and Abroad respectively.
- The maximum period of deposit is 3 years upto a maximum period of 10 years.
LAKHPATI RECURRING DEPOSIT
- The scheme is a good option for those who are seeking to meet short term goals as the maturity period of this deposit is 1 year to 5 years.
- The scheme comes with a defined maturity value of 1 lakh.
- Senior citizens get a additional interest of 0.50% per annum.
- Premature withdrawal is allowed with a penalty of 1% on the maturity amount.
- Standing instruction for transfer of monthly installments from Savings to RD account is free of charges.
- An individual in his/her own name or jointly
- Educational institutions
- Clubs, companies
- Non residents (Ordinary) account
- Non residents (External) account
VARIABLE RECURRING DEPOSIT
- The depositor has to choose a core monthly installment and the amount can be maximum of 10 times the core monthly installment which will be the initial deposit.
- The deposit tenure period is 6 to 120 months in completed 3 months.
- Senior citizens gets an additional interest to 0.50% only for deposits of 1 to 5 years.
- Penalty will be levied.
- The deposit made shall continue till maturity date. However, pre mature withdrawals are allowed.
- An individual in his/her own names or jointly
- Minor on behalf of guardian
- Non individuals like trusts, educational institutions, club, companies & associations.
- Non resident (Ordinary) account
- Non resident (Regular) account