Recurring Deposits (RD)

Terms & Conditions

1-Premature closure of the RD account shall ordinarily not be permitted before completion of the prescribed maturity period. However, if premature closure is allowed by the Society under exceptional circumstances, no interest shall be payable on the deposit amount.

2-In case any monthly installment(s) are skipped or remain unpaid, the maturity period of the RD account shall automatically be extended by the number of defaulted month(s). The maturity payment shall be made only after completion of the extended maturity period.

3-Payments exceeding ₹20,000 shall be made only through transfer to the registered bank account of the account holder by NEFT/RTGS/IMPS or any other approved banking channel. No cash payment shall be made for amounts exceeding ₹20,000.

4-Submission of a valid PAN Card is mandatory for payments exceeding ₹20,000. The Society reserves the right to withhold payment until the PAN details are furnished in accordance with applicable laws and internal policies.

5-The maturity amount shall be payable only to the account holder or the duly registered nominee, subject to completion of all applicable formalities.

6-The Society reserves the right to amend, modify, or revise these Terms & Conditions from time to time in accordance with its policies, applicable laws, and regulatory requirements. The decision of the Society shall be final and binding in all matters relating to the RD Scheme.