Recurring Deposit

Recurring Deposit

A Recurring Deposit is a savings option offered by banks that allows customers to regularly deposit a fixed amount of money every month. This financial tool fosters a disciplined savings habit and ensures a steady accumulation of funds for your future goals.

Core Features

01

Eligibility

All Resident Indians (Individuals, Sole Proprietors, Partnerships, Companies, Trusts, HUF, etc.)

02

Low Entry

Start your savings journey with as little as Rs. 100/- per month.

03

Flexible Tenure

Choose a period that suits your goals, ranging up to a maximum of 10 years.

04

Higher Returns

Interest calculated on a quarterly compound basis to maximize your wealth.

DOCUMENTS TO BE SUBMITTED

The Vaish Cooperative Adarsh Bank Ltd.

S.No Category Documents Required
1. Authorized Signatories
Identity & address proof
  • Photographs of persons authorized to operate the accounts.
  • KYC Documents (any two): Aadhar Card, Passport, Driving Licence, Voter’s ID, NREGA Job Card, or PAN card.
2. Sole Proprietary Concern Copy of registration certificate (Shop & Establishment, PAN, TIN, VAT, etc.) and KYC of the sole proprietor.
3. Partnership Firm
  • Partnership Deed (Registered/Unregistered) & Certificate from Registrar.
  • Declaration if not registered.
  • Sales/Income Tax Number, PAN, VAT, or TIN.
4. HUF (Hindu Undivided Family) Letter signed by all co-parceners with the specific name of Karta & relevant registration certificates.
5. Private Limited Company
  • Certified Copy of MOA & AOA (Amended).
  • Certificate of Incorporation.
  • Board Resolution for opening and operating the account.
6. Trust Copy of Trust/Incorporation deed and Board Resolution for account operation.
7. Club/Association/Society
  • Constitution/Bye-laws & Registration Certificate.
  • Certificate of commencement of Business.
  • Resolution adopted by the Board of Directors.