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Recurring Deposit (RD) is a special kind of Term Deposit offered by banks or NBFCs. RD requires depositing a fixed sum of money month on month throughout the period of the scheme. A recurring rate of interest is applied to the deposit money which can be finally yielded at the time of maturity. This scheme is beneficial for people with regular incomes where they can make monthly deposit of a fixed amount into their Recurring Deposit account and earn interest.

At the time of opening an RD account, the maturity value is indicated to the customer assuming that the monthly installments will be paid regularly on due dates. In case of delay of one (or few) installments, the final maturity value may differ accordingly as the difference in interest will be deducted towards penalty. The rate of penalty will be fixed upfront.

RD SCHEME (Recurring Deposit)

Year 1 2 3 4 5
Int. Rate% 5.50 6.50 7.00 7.50 8.00



Advantages of a Recurring Deposit

With BLM offering an attractive interest rate for Recurring Deposit products, customers can gain the maximum out of their investments. Here are some of the advantages that come with Recurring Deposits.

Useful for Planning Short Term Goals

Investing in a Recurring Deposit is completely risk free and gives guaranteed returns. Investing in Mutual Funds and Stocks might not be a safe option if you have short term investment goals. Because of this nature of RD, investors contemplating on short term goals in a time span of 1 to 3 years choose to involve in Recurring Deposit. Consider the situations given below, Recurring Deposit might just be the right financial product if you are planning to tackle short term situations that require financial assistance.

  • Yearly education fee for your kids
  • If you are employed, higher education costs
  • If you own a home, furnishing and renovation costs
  • Overseas vacation
  • Managing marriage expenses
  • Online Recurring Deposit Features

    Investing has just become easier. The customer can deposit money in Recurring Deposit account, close the RD account, open another RD, update information, view transactions, deposit details and do much more. Think about making an investment and earning interest without even having to leave your home - investing in a Recurring Deposit is as easy as this.

    Recurring Deposit Interest Rates

    Recurring Deposit interest rates depend on the tenure and deposit amount. In most cases, the Recurring Deposit interest rate is very similar to that of fixed deposits. Interest rates for RD vary from 7% to 9% depending on plan chosen by the customer. Also,we offer higher interest rates for senior citizens.

    Ease of Investment

    In a Recurring Deposit scheme, the investor has to deposit a fixed sum every month which will build up a savings discipline. For salaried customers, it will be easier to set aside a particular amount every month as savings and for this, Recurring Deposit is the best option. Also, RD schemes come with guaranteed returns and the rate of interest for RD is locked in which will protect the investor from interest rate swings.

    Premature Withdrawal

    Facility is available as per the society rules

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Head Office: Bharath Lajhna Multi State Housing Co-operative Society Ltd.

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Koyambedu, Chennai - 600 107. Tamil Nadu. India

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