Variable Recurring Deposit


Our VRD product designed with flexibility to suit your personal requirements and to achieve your future goals. You can save a little every month to build up the desired corpus.

Eligibility

  • New/Existing account with SGB

Interest Rate

  • Please refer to Deposit Interest Rates Page
  • Quarterly compounding interest
  • Interest rate applicable as Domestic Term Deposits under respective tenors
  • Interest will be paid on the minimum balance between 10th and last day of the month

Salient Features

  • Customer is given an option to vary his monthly installments according to his convenience in multiples of 25/-
  • No restriction on number of times credit into account and monthly installment subject to max of 10 lakhs in a calendar month
  • No penal interest for delayed payment of installments
  • Loan, Nomination and foreclosure facilities available as per extant guidelines
  • TDS at prevalent rate is deducted at source if FORM 15G/ 15H not submitted
  • Standing orders facility available and to do hassle free monthly installments

Term

  • Minimum : 12 Months
  • Maximum : 36 Years

Min/Max Amount

  • Minimum Amount : 25
  • Maximum Amount : No Limit

How to open an account ?

  • Please visit your nearest branch, duly fill and submit the opening form and required KYC documents (Officially Valid Documents)
Designed by Yaswanth Gupta Bondada