Recurring Deposit – RD

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Eli Global Mutual Benefit Nidhi Limited

Recurring Deposit - RD

  • Interest will be calculated on Yearly Compounded basis.
  • Recurring Deposit minimum amount Rs 200/-, thereafter in multiples of Rs 100/-
  • Pre- closed Account will be only applicable for more than 3 month regular deposit.
  • Loan available at the 2% per month interest.
  • Lapse on payment of installment amount will make the defaulter and Charges at the 2% per month with installment amount.
  • 1 month after paying last installment or maturity amount due dates whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled for pre mature payment and loan facility against it.
  • On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 installment, the said account will be treated as irregular.
  • After maturity date, payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account.
  • No interest payable on Pre-maturity.

Loan facility on Recurring Deposits :

  • On 24 month and 36 month deposit schemes, after 1 year (after receiving of 12 installments) loan up to 60% of deposited amount will be given.
  • On 48 month and 60 month deposit schemes, after 1.5 years (after receiving of 18 installments) loan up to 60% of deposited amount will be given
Recurring Deposit - RD