Get upto 4%* on our Savings Account Balances with Fourth Gate Reserver Bank.
More DetailsInfo@example.com
Updates:
Dear Customer, We have launched Video KYC facility for New customer to open savings ac
Get More From Your Money
Access your money anytime and anywhere.
Know About
Savings Account
Recurring deposit schemes allow customers an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period of time. The minimum period of a recurring deposit is six months and the maximum is ten years.
However, it is essential to know that RDs are different from Fixed Deposits/FDs . RDs are flexible in most aspects. An RD account holder can choose to invest a fixed amount each month while earning decent interest on the amount. RDs are an ideal saving-cum-investment instrument.
Reach Your
Savings Goal With Us
Year of
2024
Our Recurring Deposit Account Benefits
We help businesses and customers achieve more.
-
Assured returns
A recurring deposit investment offers a guaranteed return on investment upon maturity as their rate of interest payout remains fixed throughout the deposit tenure.
-
Free SMS Alerts
Provides account information updates via SMS/Email alerts.
-
Attractive interest rates
When it comes to recurring deposits, interest rates are often a deciding factor for investors. The good news is that the interest rates for RDs are quite similar to those of fixed deposits and depend on the deposit amount and tenure. However, it's worth noting that interest rates may vary depending on the bank and the chosen plan.
-
Penalty not included
There was a time when you needed to pay penalties if you missed a monthly payment due. However, with institutions like Forest Reserve Bank, saving with an RD account has become more investor-friendly as you do not incur a penalty for missing an installment. At Forest Reserve Bank there are no premature withdrawal penalty charges for Recurring Deposits. However, if you withdraw your investment prematurely, the latest interest will not be added to it.
-
Provides Safety
Monitoring of account activities from the comfort of your home/office via internet, telephone and mobile banking.
-
Goal Base Savings
One of the best advantages of a recurring deposit is that it can be used as a tool for goal-based savings.
Eligibility to
Open Savings Account
Eligibility parameters for saving account.
-
1
Available Worldwide
Available to all Existing and New Customers.
-
2
Age
18 Years old or above