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here are some most important features of Recurring Account:
- Recurring deposits are accepted in equal monthly instalments of minimum Rs 1,000 and above in multiples of Rs 500 thereafter.
- Recurring Deposit accounts can be opened for a minimum period of 12 months and in multiples of 12 months thereafter, upto a maximum of 120 months.
- The amount of installment once fixed, cannot be changed .
- Installment for any calendar month is to be paid on or before the last working day of the month. Where there is delay in payment of installment, one can regularise the account by paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a month will be treated as full month for the purpose of calculating the penalty.
- The total amount repayable to a depositor, inclusive of interest, depends on the amount of monthly installments and the period of deposit.
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What is recurring account?
recurring means. the number goes on and on and on... e.g. 0.3 (recurring) = 0.33333333... A recurring account could refer to an account which you pay regularly - an account which recurs - such as a telephone account.
Letter format for recurring deposit installment complete so transfer this money in saving account?
Letter format for recurring deposit installment to from saving account
Can a company open a recurring deposit account?
yes
Is there loan available at recurring deposit account?
maybe
What are different types of bank accounts?
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
What if you didn't know about 7 day recurring NSF fees?
When opening a check account, the holder of the account signs a document that outlines all of the charges that can be imposed. If the 7 day recurring NSF fee was stated in the document, the account holder can not claim ignorance.
What are the various types of deposits in a private and nationalized bank?
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
What are the various types of bank accounts?
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
What are India's account balances and major features of their account balance and capital account balance and Forex reserves for 2001 to 2006?
1. capital account balance and forex reserves for the period 2001-2006 and list the major features.
A passbook account is a type of checking account?
Maybe. A passbook is just a booklet that contains all details of banking transactions done on the bank account to which it is linked. It can be linked to a savings account, a recurring deposit account or even a checking account. So, by just knowing that an account has a passbook, we cannot conclude if it is a checking account
Which email is better yahoo or Gmail?
Gmail has almost all of the same features, less ads, and more features. Gmail also comes with a Blogger account, YouTube account, Orkut (social network) account, and many others.
What are the four productivity features with an email account?
this cite sux
