Recurring Deposit

Recurring Deposit Is A Type Of Term Deposit Offered By PARKEN NIDHI Which Help People With Regular Incomes To Deposit A Fixed Amount Daily Or Monthly Into Their Recurring Deposit Account And Earn Interest At The Attractive Rates Offered By Us. It Is Similar To Making Fixed Deposits Of A Certain Amount In Monthly Installments. This Deposit Matures On A Specific Date In The Future Along With All The Deposits Made As Per Recurring Deposit Frequency. Recurring Deposit Schemes Allow Customers An Opportunity To Build Up Their Savings Through Regular Deposits Of A Fixed Sum Over A Fixed Period Of Time. The Minimum Period Of A Recurring Deposit With PARKEN NIDHI Is Six Months And The Maximum Is Five Years.

POPULAR RECURRING DEPOSIT SCHEMES:

DAILY DEPOSIT 365 DAYS

JIBON SUBH ANAND ( SAPTAH BACHAT )

DD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50365 Days8%19710 Rs
100365 Days8%39420 Rs
150365 Days8%59130 Rs
200365 Days8%78840 Rs
400365 Days8%157680 Rs
500365 Days8%197100 Rs

RECURRING DEPOSIT 12 MONTHS ( JIBON ANAND )

RD Amount
(Minimum 1000)
TenureInterest Rate (%)Maturity Amount
50012 Months8%6148.30
100012 Months8%12296.55
200012 Months8%24593.10
300012 Months8%36889.68
500012 Months8%61482.80
1000012 Months8%122965.60

RECURRING DEPOSIT 24 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50024 Months8.15%12645.45
100024 Months8.15%25290.86
200024 Months8.15%50581.69
300024 Months8.15%75872.58
500024 Months8.15%126454.31
1000024 Months8.15%252908.64

RECURRING DEPOSIT 36 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50036 Months8.30%19611.13
100036 Months8.30%39222.29
200036 Months8.30%78444.61
300036 Months8.30%117666.83
500036 Months8.30%196111.40
1000036 Months8.30%392222.82

RECURRING DEPOSIT 48 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50048 Months8.45%27100
100048 Months8.45%54201
200048 Months8.45%108402
300048 Months8.45%162604
500048 Months8.45%271007
1000048 Months8.45%542014

RECURRING DEPOSIT 60 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50060 Months8.60%35364
100060 Months8.60%70729
200060 Months8.60%141458
300060 Months8.60%212187
500060 Months8.60%353646
1000060 Months8.60%707292

RECURRING DEPOSIT 72 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50072 Months8.75%44547
100072 Months8.75%89094
200072 Months8.75%178188
300072 Months8.75%267282
500072 Months8.75%445471
1000072 Months8.75%890942

RECURRING DEPOSIT 84 MONTHS

RD Amount
(Minimum 50)
TenureInterest Rate (%)Maturity Amount
50084 Months8.90%56865
100084 Months8.90%113731
200084 Months8.90%227463
300084 Months8.90%341195
500084 Months8.90%568659
1000084 Months8.90%1137318

Tenure Of Payment

The tenure of account is 12 months and above.

Mode Of Payment

All payments to the Company shall be made either in cash or by cheque draft against the receipt countersigned by its authorised signatory by any mode or media other than mentioned above shall be at the member account holder’s riks. The cheque/draft shall be credited in the name of member account holder subject to clearance by the bank. Out/station cheques shall not be accepted.

Issue Of Passbook:

A passbook will be issued to every Member Account Holder.The Member Account holder shall get the passbook updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts dully countersigned by the authorised signatory of the branch office bearing seal. Payment shall be made on basis of receipts only.

Terms & Conditions

  1. It is mandatory to be a member in the Company.
  2. Company will issue shares worth Rs.100/- to member for RD Plan.
  3. Interest will be calculated on yearly basis.
  4. Recurring deposit minimum amount Rs.50/-,there after in multiples of Rs.50/-.
  5. Irregular deposits are not entitled to pre mature payment and loan facility against it.
  6. After maturity date,payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account.No deduction will be made on the principal amount of such loan.