The Surat People’s Co-Operative Bank Ltd.
Toll Free Number
1800 233 7722

Recurring Deposits

Recurring deposits are a type of banking investment very similar to cash certificates. One of the main differences is the deposit terms, which tend to be monthly instead of quarterly. A recurring deposit account may not be as flexible as a cash certificate deposit in terms of lending against the money.

NAME OF SCHEME

SPB GENERAL RECURRING DEPOSIT ACCOUNT

 TYPE OF DEPOSIT

SPB GENERAL RECURRING DEPOSIT ACCOUNT

 

FOR MIN.12 MONTHS AND MAX 120 MONTHS

MIN REQUIREMENT

Rs.100/-

MINIMUM BAL IN A/C

MULTIPLES OF Rs.100/-

KYC COMPLIANCE

IN FULL

BASIC FEATURES/FACILITIES

 

 

NOMINATION FACILITY (INDIVIDUALS ONLY)

 

PENALTY OF RS. 1.50 FOR RS. 100 PER MONTH FOR LATE PAYMENT

NAME OF SCHEME

SPB KANYA RECURRING DEPOSIT ACCOUNT

 

(GIRLS UPTO AGE OF 12 YRS WITH GUARDIAN)

TYPE OF DEPOSIT

RECURRING DEPOSIT ACCOUNT

 

FOR MIN.12 MONTHS AND MAX 120 MONTHS

MIN REQUIREMENT

Rs.500/-

MINIMUM BAL IN A/C

MULTIPLES OF Rs.500/-

KYC COMPLIANCE

IN FULL

BASIC FEATURES/FACILITIES

 

 

NOMINATION FACILITY (INDIVIDUALS ONLY)

 

OPERATION IN THE ACCOUNT ALLOWED ALONGWITH GUARDIAN

 

CONVERSION OF MINOR A/C TO MAJOR ON ATTAINING  MAJORITY

 

PENALTY OF Rs.100/- FOR CLOSURE OF A/C WITHIN ONE YEAR

 

IF THE RD A/C IS OPENED FOR 5 YRS & ABOVE, PRIORITY FOR

 

LOAN FACILITY FOR EDUCATION LOAN /MARRIAGE PURPOSE LOAN @50%

 

 REBATE IN LOAN PROCESSING CHARGES

1. This is 120 months' scheme linked with insurance cover with LIC of India
2. Option I:
             Installment is fixed for the amount of ` 2,775/- per month up to 120 months and
depositor will get minimum RD proceeds of ` 5/- lac and benefit of insurance cover
of ` 5/- lac.
Option II:
              Installment is fixed for the amount of ` 5,550/- per month up to 120 months and
depositor will get minimum RD proceeds of ` 10/- lac and benefit of insurance cover
of ` 10/- lac.

Terms & conditions