A Recurring Deposit is a savings option offered by banks that allows customers to regularly deposit a fixed amount of money into their RD account every month for a predetermined period. This financial tool not only fosters a disciplined savings habit but also ensures a steady accumulation of funds, making it an ideal choice for individuals looking to achieve their financial goals systematically. Opening a Recurring Deposit account is a straightforward process at The Vaish Cooperative Adarsh Bank Ltd.
Features:
➤ All Resident Indians ( Individuals/ Sole Proprietor/ Partnership/ Company/ Trust/ HUF etc) can open the Account.
➤ Minimum Monthly Deposit amount is Rs.100/-
➤ Deposits can be made for a maximum of 10 years.
➤ Interest will be calculated on quarterly compound basis so the depositor can earn a higher amount of interest.
Swipe Left to Explore Doucment Checklist.
DOCUMENTS TO BE SUBMITTED
The Vaish Cooperative Adarsh Bank Ltd.
S.No
Category
Documents required
1.
Applicable to all authorized signatories : Identity & address proof
1) Photographs of persons authorized to operate the accounts.
2) KYC Documents (any two out of the following):
a) Aadhar - The letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar Number.
b) Passport
c) Driving Licence
d) Voter’s Identity Card issued by Election Commission of India.
e) Job card issued by NREGA duly signed by an officer of the State Government,
f) Permanent Account Number (PAN) card.
2.
Sole Proprietary Concern :
Copy of any registration certificate like registration under shop & establishment, PAN, TIN, VAT etc. and KYC of sole proprietor.
3.
Partnership Firm :
1) Partnership Deed (Registered or Un registered), Copy of certificate issued by Registrar of Firms.
2) If not registered – Declaration by all the partners that partnership deed has not been registered.
3) Official Identification Number: e.g. Sales/ Income Tax Number, PAN, VAT, TIN etc.
4.
Hindu Undivided Family (HUF) :
Letter signed by all co-parceners with specific name of Karta, Copy of any registration certificate like registration under shop & establishment, PAN, TIN, VAT etc.
5.
Private Limited Company :
1) Certified Copy of Memorandum and Article of Association as amended up-to date.
2) Certified copy of Certificate of Incorporation.
3) Resolution of the Board of Directors authorizing to opening of account and naming the persons authorized to operate it.
6.
Trust :
1) Copy of Trust / incorporation deed.
2) Resolution adopted by the Trust authorizing to opening of account and naming the persons authorized to operate it.
7.
Club/Association/Society :
1) Certified copy of Constitution /bye-laws/Rules and regulations / Memorandum and Article of Association.
2) Certified copy of Registration Certificate issued by Registrar of societies.
3) Certified Copy of Certificate of commencement of Business.
4) Certified copy of the Resolution duly adopted by the Board of directors of the Club / Association / Society / trust.
Send Your Request & Get Call Back
Fill all the necessary details and Get call from experts.