Recurring Deposit
A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered by Indian Banks. RDs are an ideal saving instrument. As per Nidhi rules, Nidhi company can also provide RD facility to its members.
AMT Nidhi provides recurring account only to its registered members. Recurring deposit is not compulsory but we encourage our members to start with a small recurring deposit starting with 100 Rs. In RD, you have to deposit a fixed amount on a monthly basis for the chosen tenure and at the end of your tenure, you earn a cumulative return (quarterly compounding). The minimum term required for our Recurring Deposit scheme is 1 year and maximum 5 years.
Recurring deposits shall be accepted for a minimum period of 1 year (12 months) and a maximum period of 5 years (60 months). Therefore, AMT Nidhi provides a recurring deposit, there are various tenure available like 1 year, 2 years, 3 years, 4 years and a maximum tenure of 5 years.
The minimum amount of investment is Rs. 100 for RD and after that in multiples of Rs. 100/-.
• 2 Years – 9.00 % Yearly
• 3 Years – 9.50 % Yearly
• 4 Years – 10.00 % Yearly
• 5 Years – 10.25 % Yearly
Interest on RD will be compounded quarterly.
- R.D. will not be premature within first 6 month.
- If R.D. is matured after 3 month but before 6 month no interest will be paid.
- If any person premature it’s R.D then the person will be paid 2 % , less of maturity interest after 6 months to 60 months. There will also be a processing charge of 200 Rs.
No! The rate of interest is fixed in this product so no special benefit is available for senior citizens and women
Amount of Rs. 2.00 per hundred per month will be recovered if installments are not deposited on regular basis.
Types & Rates of Interest
Below table demonstrates a RD of Rs 500 per month.
| Period (In Months) | Rate of Interest | Maturity Amount |
| 12 | 8% | 6265 |
| 24 | 9% | 13184 |
| 36 | 9.5% | 20873 |
| 48 | 10% | 29555 |
| 60 | 10.25% | 39218 |