Recurring Deposit is a wise saving option for small time investors and those with a steady monthly income. A unique kind of term deposit, RD allows the investors to deposit a fixed sum every month for a fixed period. Once the deposit tenure is over, the account holder gets back a lump sum amount including the principal and interest.
To encourage the habit of savings in its customers and to maximise their profit, DBS Bank offers Recurring Deposit scheme with various features and benefits.
Features and Benefits of DBS Bank’s Recurring Deposit
- The deposit tenure ranges from a minimum of 6 months to a maximum of 5 years.
- The minimum monthly deposit amount is as low as Rs. 1000.
- You do not require to invest a lump sum amount, upfront, to open an RD account with DBS Bank.
- If you already hold a savings account with DBS Bank, then you can avail the option of ‘auto-debit to RD account’.
- Visit any DBS Bank branch to open an RD account.
- TDS deductions are subject to the existing income tax rules as at the time of opening the RD account.
Interest offered on DBS Bank’s Recurring Deposit
DBS Bank believes in guaranteeing maximum returns to its customers. Hence, the Recurring Deposit interest rates are same as that of the term deposit rates. Please contact the nearest DBS branch to know more about the interest rates offered on Recurring Deposit.
How to Apply for a DBS Bank Recurring Deposit
Individuals who satisfy the eligibility criteria and are keen to open a Recurring Deposit with DBS Bank can do so without hassle. All one has to do is approach any branch of DBS or call their hotline number and make a request for the same. The account will be opened once all formalities are completed, providing account holders an opportunity to earn assured returns on their savings.
Interested individuals can call on the following numbers to apply for a Recurring Deposit Account:
- 1800 209 4555
- 1800 103 9897
- +91 44 6685 4555