Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit
Baroda Rajasthan Kshetriya Gramin Bank allows you to build up capital over time by making daily monthly deposits of a fixed amount. It provides you with a variety of RD choices, ranging from a minimum of 12 months to a maximum of 120 months. An RD’s maximum deposit volume is unrestricted. When you open your RD account, you must have instructions for the disposition of maturity proceeds. Loans or overdrafts of up to 90% of the deposited amount are eligible. The rate of interest on RDs is the same as that on term deposits. Both Senior Citizens aged 60 and up will be charged at a rate that is 0.50 percent higher than the general consumer rate.
For those with lower incomes, investing in Baroda Rajasthan Kshetriya Gramin Bank is a great choice. The advantage of RDs is that you get the same interest rate for the duration of the RD, even though subsequent RD rates are lower.
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Rates – Special Features
- Flexible FD tenures and competitive interest rates are available to fit your investment strategy.
- You can open an FD account online or at a Baroda Rajasthan Kshetriya Gramin Bank branch near you.
- There is no limit on the maximum amount of FD.
- Tenure of FDs: From one day to ten years
- Monthly, quarterly and other interest payment options are available.
- Up to 85 percent of the FD sum is eligible as a loan or overdraft against the FD.
- Liquidity solutions that are simple and fast are available.
- It is possible to nominate anyone.
- Through the tax-saving term deposit scheme, you will get a tax gain of up to Rs 1,50,000.
- There are also options for partial withdrawal and auto-renewal.
- In comparison to younger people, senior citizens will benefit from a higher interest rate.
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Schemes Types
1. BRKGB Saving Bank Deposit Scheme
2. BRKGB Basic Savings Bank Deposit Account
3. BRKGB Basic SB accounts with overdraft
4. SB Financial Inclusion accounts
5. BRKGB Flexi Saving Bank Account
6. BRKGB Term Deposit Scheme
7. BRKGB Flexible Fixed Deposit Scheme BRKGB
8. BRKGB Tax Saving Term Deposit Scheme, 2006
9. BRKGB Recurring Deposit Scheme
10. BRKGB Ichchha Shakti Jama Yojna (ISJY)
11. Current Account Deposit Scheme
12. BRKGB-Premium C/A Deposit Scheme
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Account
Customers can park their surplus savings for a set period of time in a revolving deposit offered by the bank. At the time of account opening, a customer must make a deposit into their RD account. During the term of the deposit, the customer makes frequent deposits and withdraws some money from the account.
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Rates
Baroda Rajasthan Kshetriya Gramin Bank’s Recurring Deposit Interest Rates (as of 30 Mar 2021). An account in which the investor is required to deposit a predetermined amount at regular intervals (usually monthly installments) over a long period of time.
Bank RDs are sold by public sector banks, private sector banks, cooperative banks, multinational banks, and regional rural banks. You are expected to invest in regular increments that are pre-determined (usually monthly). Banks offer a range of tenures and interest rates from which you can select depending on your requirements. The maturity amount is charged, and interest rates are calculated quarterly rather than weekly.
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Interest Rates 2021
| Maturity Period |
Interest Rate (p.a.)
|
| Year 1 | 5.50% |
| Year 2 | 5.50% |
| Year 3 | 5.50% |
| Year 4 | 5.50% |
| Year 5 | 5.75% |
Baroda Rajasthan Kshetriya Gramin Bank Recurring Deposit Interest Calculator
A pre-specified sum is deposited at periodic intervals on a regular basis in a Baroda Rajasthan Kshetriya Gramin Bank RD account, and the term ranges from 6 months to 10 years, with monthly installments of 12, 24, 36, 48, 60, 72, 84, 96, 108, and 120 months.
You can conveniently measure the amount of interest received as well as the maturity amount using the RD calculator below. Please keep in mind that the results of this calculator will only give you a rough estimate of the maturity values; only your bank will be able to tell you the exact amount you will get.
The Baroda Rajasthan Kshetriya Gramin Bank RD Interest Rate Calculator aids in calculating interest on an RD based on the following factors:
(1) Sum Due Per Month
You will need to enter a monthly investment number. It’s also known as a monthly installment plan. If you want to invest Rs 2000 every month, enter Rs 2000 in the appropriate box.
(2) Timeframe
It refers to the length of time you have registered your RD for. It must be expressed in months. It lasts anywhere from 6 to 120 months.
(3) The Rate of Interest
It is the rate of interest that the bank would give on the RD. It is dependent on the length of your RD. It differs from one bank to the next.
Recuriing Deposit Account Opening Process at Baroda Rajasthan Kshetriya Gramin Bank
Step(1): Visit your nearest Baroda Rajasthan Kshetriya Gramin Bank Branch
Step(2): Fill Out the Required Form
Step(3): Submit Require Documents
Step(4): First Deposit
Step(5): Opening of your RD Account
Duration of Recurring Deposits with Baroda Rajasthan Kshetriya Gramin Bank
A pre-specified sum is deposited at periodic intervals on a regular basis in a Baroda Rajasthan Kshetriya Gramin Bank RD account, and the term ranges from 6 months to 10 years, with monthly installments of 12, 24, 36, 48, 60, 72, 84, 96, 108, and 120 months.
FAQs
✅ What is the maximum amount for a recurring deposit?
1.5 lakhs
✅ Is rd a good investment option?
For salaried individuals, investing in an RD scheme is a nice choice because they do not have to pay a lump sum amount all at once, as is the case for Fixed Deposits. In RD investments, the investor just needs to spend a portion of their monthly profits, which is predetermined.