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  • IN VIEW OF COVID-19 CRISIS 'EMERGENCY CREDIT LINE GUARANTEE SCHEME' IS AVAILABLE IN OUR BANK FOR MEETING THE ADDITIONAL TERM LOAN/WORKING CAPITAL FACILITY UPTO 20% OF TOTAL OUTSTANDING AS ON FEBRUARY,29,2020 TO ELIGIBLE BUSINESS ENTERPRISES /MSMEs.new

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  • Bank has launched COVID Emergency Credit Line (NCECL) loan scheme to provide liquidity support to borrowers impacted by COVID-19 pandemic.new

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  • Bank has also revised its SEED POLICY for credit facilities to seed processing units for FY-2020-21 wherein interest rate has been linked with CMR rating and collateral coverage.new

  • Mr. Dinesh Pant, Chairman & CEO, Nainital Bank donated his ONE month salary to "PM CARES" for COVID 19 outbreak victims.new

  • Nainital Bank is contributing Rs. 11.00 lakh (Rs. Eleven lakh only) for Chief Minister Relief Fund under CSR for COVID 19 outbreak victims. new

  • Employees of Nainital Bank contributed Rs. 14.20 lakh (Rs. Fourteen lakh twenty thousand only ) for "PM CARES" for COVID 19 outbreak victims.new

  • Bank has opens its 141st Branch at Canal Road, Dehradun .new

  • Launch Of New SB Scheme –Naini Mahila Samrudhi Savings Bank Accountnew
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Home > Personal Banking > Deposit > Recurring Deposit >Recurring Deposit
Recurring Deposit Account

An ideal scheme of monthly savings for salaried people, businessmen, professionals, housewives etc. It mainly encourages small investors to save in easy monthly installments over a fixed period of time.

Eligibility:

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, visually impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "Recurring Deposit Account" in single/joint name/s

Features:
  • Minimum deposit is Rs.100/-per month

  • Minimum Period of deposit is 12 months.

  • Delayed payment of installments are accepted with nominal penalty.

  • Monthly minimum balance in the account earns compound interest every quarter.

  • Recurring Deposit accounts are exempted from TDS

  • Loan on deposit amount available depending on the length of the unexpired period of the deposit.

  • Nomination facility available.

  • The rates of interest are as fixed by the Bank from time to time.