Lakshmi Vilas Bank Recurring Deposit allows you to save in small amounts of money and get a lump sum amount of money in return. It is suitable for tax planning annual payment commitments like insurance premium, long-term requirements like purchase of consumer articles/durable s, house construction, or your child’s further education etc.
Features
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Eligibility |
· Individual (sole or jointly) · Minors can also open their deposit account. |
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Minimum Deposit |
The minimum amount of deposit is Rs 100 and in multiples thereof without any limitation on the maximum amount. |
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Tenure |
The minimum deposit time period is 12 months and the maximum deposit is 120 months. |
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Loan Facility |
Available |
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Nomination Facility |
Available |
