Recurring Deposit
Recurring Deposit scheme provides an opportunity to build up savings through regular monthly deposit of fixed sum over a period and have sufficient funds to achieve specific financial goals at the end of specific period.
Invest through TGB Mobile Banking or by visiting your nearest branch.
Features
- Period of deposit Minimum - 12 months, Maximum - 120 months
- Available at all branches
- Minimum deposit amount is Rs. 100/- per month (thereafter in multiples of Rs. 10/-)
- Penalty is charged on delayed payment of instalments.
- Amount will be paid at maturity.
- Premature Closure is also available.
- TDS is applicable as per Income Tax Rules. Form 15G/15H can be submitted by the depositor for exemption from tax deduction as per IT Rules.
Loan against deposit is allowed with applicable margin as under
| TENURE OF DEPOSIT | MARGIN |
|---|---|
| >12 MONTHS | 15% |
Terms and Condition
Bank also sends intimation to customers by way of SMS calling for instructions on disposal of maturity proceeds
- Nomination available in favour of individual only.
- Passbook is issued.
- Transferability allowed among our branches
- Rate of Interest as applicable to Term Deposits for Public and Senior Citizens.
- Recurring Deposit (together with interest) of Rs. 20000/- and above shall not be paid in cash
The revised Interest rates on Term Deposits will be as under: w.e.f 25.07.2025
Savings Bank Account: 2.50% per annum.
| Sl No. | Period | Term Deposits Rate Below 1 Crore | Term Deposits Rate 1 Crore & Above |
|---|---|---|---|
| Proposed Rates (w.e.f 25.07.2025) |
Proposed Rates (w.e.f 25.07.2025) |
||
| 1 | 7 days to 14 days | 3.50% | 2.90% |
| 2 | 15 days to 30 days | 3.50% | 5.00% |
| 3 | 31 days to 60 days | 3.75% | 5.15% |
| 4 | 61 days to 179 days | 5.00% | 5.15% |
| 5 | 180 days to 270 days | 6.10% | 6.00% |
| 6 | 271 days to 364 days | 6.15% | 6.00% |
| 7 | 1 year to less than 2 years | 6.70% | 6.30% |
| 8 | 2 year to less than 3 years | 6.70% | 6.30% |
| 9 | 3 years to less than 5 years | 6.50% | 6.30% |
| 10 | 5 year to 10 years | 6.50% | 6.30% |
*Accordingly, it is proposed to reduce the interest rate on the “RD- Nethanna Podhupu” Special scheme- mandated for a 24 month term from 7.35 % to 6.75% for Normal Citizen.
Special schemes
Dasara Diwali Dhamaka (444-DDD) |
RD- Nethanna Podhupu |
Enjoy higher returns on your savings and deposits with our competitive interest rates among the best in the market. Grow your money faster with the trust and security of our bank.
Note:
a) The above rates are applicable for NRE and NRO deposits also.
b) Senior Citizens will get an additional interest of 0.50% p.a. over card rate for one year and
above term deposits only.
c) Revised interest rates on deposit are applicable to new deposits and also for the existing
deposits on their renewal.
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