Recurring Deposit is a special kind of Term Deposit offered by NAVJEEVAN which help members with regular incomes to deposit a fixed amount every month into their Recurring Deposit account. For example, Rs. 100/- every month & multiple of Rs. 100/-. This deposit matures on a specific date in the future along with all the deposits made every month. Thus, Recurring Deposit schemes allow members with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time. Period of R.D. is 1 year 3 Years & 5 years.
Interest Rate - Interest is compounded on Monthly basis in recurring deposits. It seemed to be one of the best method to save the amount yield after years of deposit.
|Period||Rate Of Interest|
|1 Year||9.5 %|
|3 Year||10.5 %|
|5 Year||11.5 %|