Kerala Gramin Bank Flexi RD

Kerala Gramin Bank offers Flexi RD to its customers which allows you to deposit variable instalments with ease and flexibility. No fixed amount is insisted by them.

The main purpose of Kerala Gramin Bank offers Flexi RD is to enable the FD Holders to deposit the amount as per their wish wihtout keeping it fixed. No penalty is charged for missing the instalments.

• Recurring Deposit plan
• An investor can deposit variable amount every month
• Attractive and guaranteed Interest Rates
• No penalty for missing the instalments
• Earn Interest at Cumulative Fixed Deposit rates, compounding quarterly
• More interest rate for senior citizens
• Loan facility is available
• Premature closure is allowed
• Nomination Facility is available

Following entities can invest in Kerala Gramin Bank Flexi RD:

• Individuals
• Individuals jointly with other Individuals
• For Minor Individuals by Guardian
• HUF
• Sole proprietary concerns
• Clubs/Associations.
• Firms
• Joint stock companies
• Any other entities as permitted by RBI

Documents required for Kerala Gramin Bank Flexi RD: For opening an account under Kerala Gramin Bank Flexi RD, the applicant is required to submit following documents:

• Two Passport Size Coloured Recent Photographs
• Copy of PAN Card/ Form 60 (with reasons of not having PAN Card)
• KYC (Know Your Customer) Documents : Proof of Identity & Proof of Address
• Proof of Date of Birth (DOB) in case of Minor & Senior Citizen
• Other mandatory documents for proprietary concerns, Clubs/ Associations, Firms and Joint stock companies, as required by the bank

Investors can choose each month's instalment anywhere between Rs.100 and Rs.5,000.

The customer can deposit the amount for period ranging from 7 days to 10 years (In multiples of 3 months)

Interest rate of Kerala Gramin Bank Flexi RD will be 5.50% and 7.45% for general public and 6% to 7.95% for senior citizens depending upon the tenure of RD.

Loan facility against Kerala Gramin Bank Flexi RD is available, subject to terms and conditions with interest only 2% above deposit rate.

Premature closure of Kerala Gramin Bank Flexi RD is availablewith a penalty @1% on the applicable rate of interest for the corresponding period for which the deposit remained with the bank.