Systematic Savings with Recurring Deposits

Develop a healthy saving habit. Deposit a fixed amount every month and earn high interest rates identical to standard Fixed Deposits. Perfect for planning ahead.

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₹100
Minimum Monthly Deposit
Required to Start

Why an RD is Right for You

Rupee

High Returns

Your periodic deposits compound effortlessly, earning interest rates equivalent to regular long-term Fixed Deposits.

Auto Debit Facility

Set standing instructions to automatically transfer your monthly RD installment from your Savings Account, completely stress-free.

Flexible Tenure

Plan for upcoming expenses by choosing a commitment period anywhere from 6 months up to a robust 120 months (10 years).

Assured Safety

Unlike equity markets, your money is 100% immune to market risks. Perfect for fulfilling crucial short-term plans like travel, education, or weddings.

Important Policies

  • Late Payments: A nominal penal interest is applied on delayed installments as per standard bank norms.
  • Premature Withdrawal: Funds can be withdrawn before maturity with a minor penalty on the interest rate.
  • Senior Citizens: Similar to FDs, senior citizens receive an additional 0.50% interest rate premium on all recurring deposits.
  • Loan Facility: Need cash instantly? You can take a loan or overdraft up to 90% of your accumulated RD balance without closing the account.

Eligibility

  • Individuals: Sole or joint accounts (operated by any number of individuals).
  • Minors: Handled by their natural or legally appointed guardian to help build their future college fund.
  • Organizations: Commercial organizations, Trusts, Clubs, and Associations.
  • Prerequisite: To activate the Auto Debit feature, it is mandatory to hold an active Savings or Current Account with Meghalaya Rural Bank.

Start Your Saving Habit Today!

Use our mobile app to start your Recurring Deposit instantly, or visit a branch for assistance.

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