For RD Account, every month regular fixed amount is to be deposited on specific date as per the tenure choice. The minimum period is 12 months and maximum 60 Months.- Minimum deposit amount is RS 100/-and no maximum ceiling.
- Any default in regular monthly deposit of amount will carry penal clause.
- TDS as per the Income Tax Act, will be deducted if the amount of interest in a financial year exceeds RS 10000/-.
- If you do not wish to pay TDS by deduction at source you will have to submit Form 15-G/15-H along with PAN card every financial year.
Monthly Recurring Deposit
