Recurring Deposit (RD) at Wealth Royal Bank

A Recurring Deposit (RD) is a financial product offered by Wealth Royal Bank that allows customers to deposit a fixed amount regularly over a predetermined period and earn interest on their savings. It is an ideal solution for disciplined savings while achieving short or long-term financial goals.

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Features of Recurring Deposit

1. Flexible Tenure: Choose a deposit period ranging from 6 months to 10 years.
2. Minimum Deposit Amount: Start saving with as little as [insert minimum amount based on bank policy].
3. Fixed Monthly Installments: Deposit a fixed sum every month.
4. Attractive Interest Rates: Earn competitive interest rates that are compounded quarterly.
5. Safe Investment: Guaranteed returns at maturity, unaffected by market fluctuations.
6. Loan Facility: Avail loans against your RD balance at competitive rates.

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Benefits of Recurring Deposit

1. Disciplined Saving Habit: Encourages systematic and regular savings.
2. Guaranteed Returns: Assured maturity value as per the agreed interest rate.
3. Customizable Tenure: Flexibility to choose a term that aligns with your financial goals.
4. Premature Withdrawal Option: Access your funds early in emergencies (subject to terms and conditions).
5. No Risk of Loss: Perfect for risk-averse investors.

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How It Works

1. Account Opening: Open an RD account through any Wealth Royal Bank branch, website, or mobile app.
2. Monthly Deposits: Deposit a fixed amount every month on your selected date.
3. Earn Interest: Interest is calculated on the cumulative deposit and paid at maturity.
4. Maturity Amount: Receive the principal amount along with accrued interest at the end of the tenure.

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Eligibility Criteria

1. Individuals: Any resident or non-resident individual can open an RD account.
2. Joint Accounts: Joint accounts can be opened with family members.
3. Minors: Parents or guardians can open an RD account for minors.

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Documents Required

1. Identity Proof: Passport, Aadhaar card, or other government-issued ID.
2. Address Proof: Utility bill, rental agreement, or any valid document.
3. Photograph: Two passport-sized photographs.
4. Bank Account Details: Existing savings or current account details for linking.

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How to Open an RD Account?

1. Visit any Wealth Royal Bank branch.
2. Apply online via our website or mobile banking app.
3. Provide the required documents and complete the KYC process.

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Premature Withdrawal Terms

• Premature withdrawals are allowed but may incur a penalty.
• Interest will be adjusted based on the period the deposit was held.

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Interest Rate and Calculation

• The interest rate depends on the tenure and the deposit amount.
• Interest is compounded quarterly, offering higher returns compared to regular savings accounts.

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