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    Small Savings. Big Goals. 

    Discipline your savings with NK Bank’s Recurring Deposit (RD) Account. Perfect for salaried individuals or students, an RD helps you invest a fixed amount every month and earn attractive interest—like a Fixed Deposit, but built gradually.  

Recurring Account Deposit 

Build a disciplined savings habit with NK Bank’s Recurring Deposit (RD) Account—a convenient and rewarding way to grow your money with fixed monthly deposits and high-interest earnings. 

A Recurring Deposit (RD) is a type of term savings account in which you make a fixed monthly deposit for a certain period of time (6 months to 10 years). At maturity, you will receive your total savings plus compounded interest, making it ideal for short- to medium-term financial goals. 

Key Features of NK Bank’s Recurring Deposit Account 

  • Flexible Tenure: Choose from six months to ten years. 
  • Low minimum deposit: Begin with simply ₹500 per month. 
  • Attractive Interest Rates: Earn greater returns than traditional savings accounts. 
  • Automatic Debit Facility: Connect to your NK Bank savings account for hassle-free payments. 
  • Premature Withdrawal: Close the RD early (terms and conditions apply). 
  • Nomination Facility: Protect your investment for family members. 
  • Quarterly interest payout (optional): Instead of waiting till maturity, receive interest periodically.
Documents Required: 
  • Identity Proof (Aadhaar, PAN, Voter ID, Passport) 
  • Address Proof (Aadhaar, Utility Bill, Driving License) 
  • Passport-size Photo 
  • KYC Form (Available at NK Bank branches) 
How to Open an NK Bank RD Account? 
  • Fill the RD Application Form 
  • Submit KYC Documents 
  • Choose deposit amount & tenure 
  • Start monthly deposits via auto-debit or manual payments 
Benefits of NK Bank’s RD Account 
  • Guaranteed Returns: Interest rates are fixed and unaffected by market changes. 
  • Financial Discipline: Promotes consistent savings habits. 
  • Easy Online Management: Track and manage RD using NK Bank's Internet Banking and Mobile App. 
  • Flexible deposit amounts: Adjust donations based on your income. 
  • Tax Benefits: TDS applies under Section 194A (where interest exceeds ₹40,000 per year).  

Frequently asked questions

Here are some common questions about our Bank.

You can start an RD with just ₹500 per month, making it ideal for regular savers.

A small penalty may apply for missed payments. However, the RD will remain active if payments are resumed promptly.

Yes, premature closure is allowed after a minimum lock-in period, but interest will be adjusted accordingly.

Interest is compounded quarterly, similar to Fixed Deposits.