Recurring deposit account can be 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 Rs. 100/- is accepted every month for a specified period (1 year) and the total amount is repaid with interest at the end of the particular period.

• Minimum amount that can be deposited is Rs. 100/- at regular intervals.
• Recurring Deposits are accepted for a minimum period of 1 year and maximum 5 year only.
• The rate on Recurring Deposit at 8% per annum is restricted for a period of 1 year only.
• Interest calculated on Cumulative basis.
• Providing the loan facility. The loan can be availed up to 75% of the amount standing in the credit of the account holder.
• Interest for loan is +2% of the Deposit interest.
• For monthly subscription of Rs. 100/-
• Pre-closure allowed at any point of time, interest for the subscribed amount will be given.

• Proof of Identity – Voter ID, Aadhar Card, PAN Card (Any one).
• Proof of Address – Voter ID, Aadhar Card, Ration Card, Telephone bill, Property Tax bill, lease deed (Any one).
• Two passport size photographs.
• Rupees One hundred for Membership Enrolment.
• Rupees Two hundred for opening Saving Account.
• Deposit account can be opened in the name of minors and should be operated by a Guardian who should be Member of NSNL.