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Recurring Deposit

This Deposit Scheme is mainly aimed at lower / lower middle / middle / upper middle and salaried sector. It mainly encourages small investors to save in easy monthly installments over a fixed period of time.

Eligibility:-

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, visually impaired persons, housewives, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "Cumulative Account" in single/joint name/s.

Salient Feature:-

  • Monthly installments can be for any amount starting from as low as Rs.5/- and its Multiples.
  • An account can be opened for any period ranging from 12 months to 120 months.
  • The installment amount selected at the start of the scheme will be payable every month.
  • The number of installments once selected, cannot be altered.
  • Interest at the applicable rate is compounded every quarter.
  • The maturity amount will be paid one month after the deposit of the last installment (latest table giving maturity values available with the branch)
  • A pass book will be provided to the depositor
  • Cumulative Deposit accounts are exempted from TDS
  • Person can avail of 75% in term of Advance on their Deposit on Demand.
  • No interest will be paid if the account has remained with us for less than 6 months.
Quick Info

About Jain Bank

News & Notable

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  • The JAIN Cooperative Bank Ltd. offer AADHAR card enabled service. All Customers are advised to link their aadhaar card no. to their Saving Account for receiving GAS and other subsidy from Govt. of India.

  • To avoid inconvenience all the customers are advised to furnish their 12 digit Account number properly for receiving NEFT/RTGS and Govt. Subsidy.

  • As per the RBI Direction and mandatory change made in CTS clearing, all customers are advised to get replaced their old cheque books with new CTS-2010 Standard Cheque Books.

  • Mobile SMS Alert Facility is available to Customers.

  • In terms of provisions of Prevention of Money Laundering Act, 2002(PMLA) and Reserve Bank of India (RBI) guidelines, all customers are advised to submit their KYC Documents into their respective branches to avoid any inconvenience.

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Our Mission is to provide customer friendly services to all sections of the society, particularly small entrepreneurs.