Recurring Deposit – Karnavati Co-op Bank Ltd.

Save Rs.1,320/-p.m.and get Rs.96,217/-after 60 months(@7.5%)
Save Rs.1,200/-p.m.and get Rs.48,927/-after 36 months(@8.0%)
Customer can Open Recurring A/c with minimum of Rs.100/- per month and in count of Rs. 50/- thereafter i.e. Rs.150/-, Rs.200/-, Rs. 250/- etc.
Customers can open Recurring A/c for 1,2 ,3,4 or 5 years.
We offer nomination facility for all deposit accounts.
We are member of Deposit Insurance and Credit Guarantee Corporation of India Scheme in which customers deposit is insured up to Rs. 1 Lac.

Depositor has to fulfill KYC norms as per RBI directives.
Guardian can open Minor’s Recurring A/c. When minor turn major after providing valid age proof he/she can withdraw the amount with his/her signature.
The Depositor should deposit their installments till 10^th of every month.
If two or more installments are paid late, the maturity date will be extended by that period.
The maturity amount is payable after 30 days of last installments deposited.
If customer wants to close the 12 months period deposit account before its maturity the interest will be applicable as per Saving Bank Interest Rate.
If customer wants to close more than 12 months period deposit account after 12 months, 1% penalty interest applicable for the deposit actually run will be charged.
If Customer Deposits more installments than required for prescribed period, interest will not be applicable on extra installments he/she deposited.
Customers have to produce Passbook at the time of depositing installment and payment.
If Customer having saving or Current a/c in the bank, customer can give standing instruction and Bank will transfer Recurring Deposit installments from that account on the given due date.
The bank has all rights of appropriation, set off, lien and change the rules and regulations of the scheme.