Name of the Organisation : AXIS Bank (axisbank.com)
Type of Facility : How to apply Recurring Deposits
Home Page : http://www.axisbank.com
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Recurring Deposits Features and benefits :
Features :
** Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and above in multiples of Rs 500 thereafter.
** Recurring Deposit accounts can be opened for a minimum period of 12 months and in multiples of 12 months thereafter, upto a maximum of 120 months.
** The amount of installment once fixed, cannot be changed.
** Installment for any calendar month is to be paid on or before the last working day of the month. Where there is delay in payment of installment, one can regularise the account by paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a month will be treated as full month for the purpose of calculating the penalty.
** The total amount repayable to a depositor, inclusive of interest, depends on the amount of monthly installments and the period of deposit.
Recurring Deposit Account Opening Form : www.indianjobtalks.in/uploads/4114-FDrdform.pdf
Apply through online apply here : https://www.axisbank.com/