Yes, if you have Internet banking username and password, and at least one transaction account mapped to the username.
The period of deposit shall be minimum 12 months and maximum 120 months.
The interest rates vary from time to time. You can view the latest interest rates by clicking on "View current interest rate" link provided in e-RD request page.
The minimum amount of monthly installment shall be Rs 100. The amount of installment and number of installment can not be changed after opening of the account.
The name(s) and mode of operation and branch of newly generated deposit a/c will be same as in debit a/c, from which RD a/c is funded.
The maturity amount is based on the installment, tenure & type of a/c selected by the customer. The maturity value of RD is rounded off to the nearest rupee and paid after 30 days /one month deposit of last installment or on the expiry of the period, for which the deposit was accepted, whichever is later. You may enquire the maturity amount, maturity date and rate of interest, without opening e-RD through "Enquiry" tab available in e-RD page.
You can debit a savings, current, or OD account to open RD account. The account selected for debiting should be valid transactional a/c through Internet Banking channel and should not be a stopped / dormant / locked account.
No, You may contact the branch for the same.
No, maturity amount or the amount payable before maturity will be transferred only to the debit account from which the first was funded.
Yes. e-RD can be created online from 8:00 AM IST to 8:00 PM IST. Requests initiated beyond this period will be scheduled for the next opening hours.
You may cancel your standing instructions, which are set through Internet Banking, by "View/Cancel" tab, under e-Services -> Standing instruction link
No, you can pay the instalment at your branch or you can also set the standing instruction at branch or through Internet banking anytime. Only your first instalment is paid online at the time of opening of RD a/c.
Yes, you may close your RD a/c online through "Close A/c" tab under e-RD, which are created through e-RD only. RD a/c created through any other means cannot be closed through "Close a/c" tab under e-RD.
Whenever a depositor fails to pay the instalment on due date for three consecutive months the account shall not be closed and service charge of Rs 10/- is applicable. The penalty charged on delayed payment of instalment shall be.
i) Penalty in case of delay in payment of instalment of RD of 5 years or less shall be Rs 1.50 for every Rs 100 per month.
ii) Such penalty shall be Rs 2.00 for every Rs. 100 per month for the account on more than 5 years.
You can choose "Payback Principal and Interest" or "Convert to STDR" as maturity instruction for your e-RD. "Payback Principal and Interest" option will transfer the maturity proceeds to your debit account on maturity of e-RD. "Convert to STDR" option will create fixed deposit for period selected by you with the maturity amount of e-RD.
Interest earned in RD A/c is subject to TDS
Income Tax provisions will be applicable to the first applicant
You may submit Form 60/61 as applicable in lieu of PAN with your home branch
