Lakshmi Vilas Bank Recurring Deposit allows you to save in small amounts of money and get a lump sum amount of money in return. It is suitable for tax planning annual payment commitments like insurance premium, long-term requirements like purchase of consumer articles/durable s, house construction, or your child’s further education etc.
· Individual (sole or jointly)
· Minors can also open their deposit account.
The minimum amount of deposit is Rs 100 and in multiples thereof without any limitation on the maximum amount.
The minimum deposit time period is 12 months and the maximum deposit is 120 months.