The Nakodar Hindu Urban Coop. Bank Ltd. offers Recurring Deposit (RD) accounts to help customers save regularly and systematically while earning attractive interest. This scheme is ideal for individuals who want to build a corpus for future financial goals through disciplined savings.

Key Features

►  Encourages regular savings with fixed monthly deposits

►  Attractive interest rates as per Bank norms

►  Flexible deposit tenure ranging from 6 months to 10 years (as per Bank policy)

►  Premature withdrawal allowed subject to Bank terms

►  Safe and secure investment with guaranteed returns

►  Account can be opened with minimal documentation

Eligibility

►  Individuals, including minors (with guardian), and members of the Bank

►  Salaried and self-employed persons who can commit to regular deposits

►  KYC documents and proof of income required

Benefits

►  Helps in building a financial corpus systematically

►  Earns higher interest compared to a regular savings account

►  Flexible tenure allows planning for short- and long-term goals

►  Loans or advances can be availed against RD in case of emergencies

Account Operation

►  Deposits can be made monthly as per chosen installment amount

►  Easy tracking through passbook or statement

►  Maturity proceeds can be reinvested, withdrawn, or credited to savings account