1. RECURRING DEPOSIT ACCOUNT

2. RD- opening of a/c
Customer should properly fill up Application (SB-3) and pay in slip (SB-103).
The following documents are to be tendered by the customer compulsorily: -
3 copies of recent photograph
Identity Proof
Address Proof
Minimum Denomination Rs.10/- and thereafter in multiple of Rs.5/-.

3. RD- opening of a/c… Maximum - no limit Maturity period 5 years.
For accounts opened on or after maturity value for Rs 10/- Rs
Rate of interest 8.4% w.e.f
Opened by any adult or minor ( 10 year) or by guardian on behalf of minor.
Two adults jointly can open Account.

4. RD Opening of New Account
Procedure same as per Savings Bank new account open except
introduction is not required
Account can be opened through cheque, date of presentation will be the date of opening
SB-26 receipt is to be prepared
Entry should be made in RD Journal
Specimen signature slip is to be pasted in SS book ( RD)

5. Opening of account (RD)
On receipt of new a/c pass book from AO, it should be given to depositor by collecting back SB-26 receipt
Acquittance for receipt of PB by depositor obtained on reverse of SB-26
It should be pasted along with office copy of SB-26
Account number should be noted in SS book, RD journal
Date of delivery of PB is to be noted on RD journal

8. Opening of RD account and subsequent deposits through Pay roll savings scheme
It should be authorized by Head of the Circle/Regional Director on a selective basis
If there is a need to have the facility of PRS scheme, application from the institute may be obtained and sent to DO through concerned sub divisional Inspector for necessary action
If it is authorised ,the transactions should be through cheque only

9. Exercise 2.1 Opening of RD a/c
Opening of a/c
Exercise 2.1 Opening of RD a/c

10. RD- subsequent deposit
Monthly installment can be deposited on any day before the end of the month
By cash
By cheque /DD
If installment paid for previous months, default 20 Paisa for Denomination of Rs.10/- per month will be charged and proportionate for other Denominations

11. RD- subsequent deposit
If installment paid in advance for 6 month or more , rebate will be paid at the following rate.
Dn Rs. 10/ month Re.1/-
12 month Rs.4/-
Proportionate for other Denominations.

12. RD Subsequent Deposit (Cash)
BPM must examine pay in slip & passbook.
Check cash tendered with pay in slip.
For default installment , recover default fee.
For advance installment , give rebate.
Make entry in RD journal
BPM should deliver pass book & counterfoil to depositor.

13. Rule No.

15. Subsequent deposit through cheque
Same procedure as that of SB except
Date of presentation of the cheque is the date of deposit
Entry will be made in the pass book only after realisation of the cheque

16. Exercise 2.2 to 2.6 on subsequent dep., default & rebate

17. RD-interim withdrawal/loan
Interim withdrawal (RD loan)
Only one withdrawal
After one year from date of opening
After making 12 deposits
Not to be a discontinued account
Not more than 50% of balance (including advance deposits)

18. RD-interim withdrawal
Interest on withdrawal is charged at 5year TD rate of interest+ 2 % = % = 10.3 %
8.5%+2%=10.5%
Repayment
In one lump
In monthly installments
If repayment is made in monthly installments it should be
Multiple of Rs.5
Amount of withdrawal should be divisible both by 5 as well as number of installment
Number of installment shall not exceed number of months remaining for maturity

19. RD Withdrawal-Procedure
BPM should examine Passbook & SB-7 produced by depositor & check whether depositor is eligible for withdrawal
BPM must verify Signature with reference to SS Book.
Issue SB-28 receipt
Transfer RDPB & SB-7 to AO
On receipt of PB & passed SB-7 from AO, obtain acquittance in SB-7 & effect payment. Return the PB to depositor after collecting SB-28 receipt

20. RD LOAN/WITHDRAWAL
Exercise 2.7

21. RD- Pre Mature Closure RD premature closure
Allowed after three(3) years
If there are advance deposits- after that period (Rebate paid need not be recovered)
Issue SB-28 receipt
Forward SB-7(a) & passbook to AO
On receipt of passed warrant from AO, obtain acquittance and pay amount.
A remark “ A/c closed “ should be made on
all pages of PB and all other records
Collect the SB-28 receipt and pasted with office copy

22. RD-Final closure Final closure
On completions of 5 years from the date of opening
If the date of closure falls on a holiday- the account is closed on previous day
Post Maturity Interest on maturity value is allowed for a maximum period of five years

23. RD-Final closure
Account may be continued up to further period of 5 years
With monthly deposit
Without monthly deposits
Amount payable
For completed years As per the tables
Completed months SB rate of interest
RD PMC procedure is to be followed

24. RD Journal
Entry of opening of account/transaction made in existing account should be made in the BO RD Journal.
The column of account number should be left blank in case of new a/cs.
The new account number is to be noted only after the same is allotted by the AO.
PR number should be noted in the Remarks column in RED INK for new a/c.

25. RD Journal Note the BAT Note DLT Initial the appropriate column
The DNT should be entered when transaction happens in the account subsequently

27. Thank you