Variable Recurring Deposit is a type of deposit wherein the depositor has the option of flexibility in payment of installments at hisconvenience based on his fund availability. The installments may range from Nil or in multiples of 100/- to a maximum of 10 times of the basic/core installment of deposit scheme.
Initial core deposit/Installment: : Rs. 500/- and above (multiple of Rs. 100.00)
Period of Deposit : 5 to 7 years
Penalty : No penalty in the event of default/delay in deposit of monthly installment.
Installments may be deposited in any branch under Anywhere Banking without any additional charge.
For more details,please contact the Allahabad Bank nearest to you
As per existing RD scheme
In payment of future installments- Amount may vary from NIL to maximum 10 times of the initial deposit, depending upon the capacity of the depositor;Facility of conversion to FD/DDP after 1/2/3 year(s), if unable to continue.
Passport (along with validity details like date of expiry.
Voter ID Card
Identity card with photo issued by: Central Government and its departments, State Government and its departments, Statutory / Regulatory Authorities, Public sector undertakings.
Bank Passbook / statement.
Latest electricity bill or Landline Telephone bill (atleast 3 months old).