Recurring Deposit (RD)

Build Your Savings, One Step at a Time

The Recurring Deposit (RD) scheme at The Citizens Urban Co-operative Bank Ltd., Jalandhar helps you cultivate a disciplined saving habit by depositing a fixed amount every month, growing your funds systematically over time.

Who Can Open:

✅ Individuals and Joint Accounts
✅ Firms and Corporates
✅ Clubs and Societies
✅ Trusts and Institutions

Why Open a Recurring Deposit?

✅ Ideal for salaried individuals and small business owners to develop a consistent saving habit.
✅ Helps in achieving planned goals such as children’s education, weddings, or emergency funds.
✅ Enjoy higher returns compared to a regular savings account while ensuring your funds are safe.

Salient Features:

✅ Monthly Savings: Invest a fixed amount every month and watch your savings grow with attractive interest.
✅ Flexible Tenure: Choose a deposit period from 12 months to 120 months based on your financial goals.
✅ Nomination Facility Available for your peace of mind.
✅ Passbook Facility: Stay updated on your RD with a physical passbook.
✅ Loan/Overdraft Facility: Avail up to 90% of your deposit plus accrued interest without breaking your RD for urgent needs.
✅ TDS Applicable as per Income Tax rules.