Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
In recurring deposit account Minimum amount Rs.100/- and multiplies of 100/- is accepted every month for a specified period (1 year to five year) and the total amount is repaid with interest at the end of the particular period.
Features of Mithila Sahyog (India) Ltd. Recurring Deposit Account
1. In Mithila Sahyog (India) Nidhi Limited, minimum amount that can be deposited is Rs. 100/- at regular intervals.
2. The period of deposit is minimum 1 year and maximum five years.
3. The most attractive rate of interest of 7.00% p.a .with effect from 23rd March 2017.
4. Providing the loan facility .The loan can be given upto 90% of the amount standing the credit of the account holder
5. For premature settlement, 2% less than the contracted rate will be applicable.
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