AllBank RD General

AllBank RD General/Recurring Deposit is a type of deposit wherein the depositor pays an agreed fixed amount of money into his/her account every month over a stipulated period. On the expiry of the period, the installments deposited are repaid along with the interest thereon as per the agreed terms and prevailing rules.

  • Area of operation : The product is available at all CBS branches.

  • Tenure of Deposit : The period of deposit should be in multiples of 3 months, the minimum period being 6 months and the maximum 120 months.

  • Encashment option : Premature closure of a Recurring Deposit account is allowed.

  • Loan Facility :Loans against Recurring Deposits may be considered in appropriate cases.

  • Nomination : Nomination can be accepted in favour of an individual only.

  • Monthly Installments: : Rs 100/- minimum & no maximum limit on the amount of each installment in Recurring Deposit Scheme.

  • TDS: : TDS as applicable shall be realised.

  • Individual - In his/her name

  • Two or more Individuals - Joint Accounts in their names.

  • Minors

  • Sole Proprietary Concerns

  • Partnership Firms

  • Associations,Clubs,Societies,etc

  • Limited Companies

  • Illiterate Persons,Blind Persons

For more details, please feel free to contact your nearest Allahabad bank Branch.

  • Proof of Identity: Photocopy required of any one.
  • PAN Card

  • Passport (along with validity details like date of expiry.

  • Driving License

  • 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.

  • Proof of Address: Photocopy required of any one.
  • Passport

  • Voter Id

  • Driving License

  • Bank Passbook / statement.

  • Latest electricity bill or Landline Telephone bill (atleast 3 months old).