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Recurring Deposit (Cumulative Term Deposit) :
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The Recurring Deposit Account is an account where an investor deposits a fixed amount of money every month. The scheme is meant for investors who want to deposit a fixed amount every month for a specific period of time not less than one year. Since the interest will be accumulated to the principal amount every quarterly, the depositor can expect a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.
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Cumulative Term Deposit (CTD)
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Period Of Deposits
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Genaral
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Senior Citizens
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12 Months & 24 Months
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8.50%
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9.00%
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36 Months & Above
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8.75%
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9.25%
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