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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/-.

The interest rate of the product is as follows:-
• 1 Year   –    8.00 %   Yearly
• 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.
Loan facility is available as per following rules:-
(A) For schemes of 24 months duration:
After 24 months (post receipt of 12 installments) : Up to 50% of Deposit amount.
(B) For schemes of 36 months and 48 months duration:
After 36 months (post receipt of 24 installments): Up to 75% of Deposit amount.

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