KCBS - Recurring Deposits

Build up your savings through regular monthly deposits of fixed sum over a fixed period of time

Kakinada Cooperative Building Society Recurring Deposits helps you to build your savings at your complete convenience. Anybody can save any fixed amount starting from  Rs.100 for minimum of one year.

The rate of interest at present @Rs.10% P.a., with yearly compounding.

Advantages/ features:
Minimum amount Rs.100
Minimum Time period 1 year
Rate of interest 10% P.a., on yearly compounding basis.

Advantages:

  1. No tax deduction
  2. No charges for executing your standard instructions.
  3. Pre-planned savings for a better future goal
  4. Deposits can be started with a minimum amount of  Rs.100/- per month and there is no bar of maximum limit.
  5. The minimum period of deposit can be from one year to ten years.
  6. In case of cancellation below 6 monthly instatements, the cancellation charges are collected from the Depositor and the amount is remitted to the account without any interest.
  7. In case of cancellation after payment of 6 installments, simple interest of savings account is paid for the completed months.