Recurring Deposit
Open Recurring Savings Account
Save regularly and earn up to 9% interest with RDSS.
Up to 9% p.a
Our Interest Rate
T Bank’s Recurring Deposit is a savings product designed to help customers grow their savings through regular monthly contributions either fixed or flexible over a defined period. It offers a disciplined and convenient way to save while earning interest, making it ideal for meeting future financial goals.
Eligibility
Individuals (Bhutanese or Non Bhutanese)
Jointly/Either or Survivor/Anyone or Survivor
On behalf of minors (by a parent or legal guardian)
Need a Saving Account /Current Account with T Bank
Types of RD
Simple Recurring Deposit
A savings plan where a fixed amount is deposited monthly for a predetermined period.
- Minimum monthly installment: Nu.100, in multiples of Nu.100
- Minimum tenure: 91 days
- Maximum tenure: 10 years and above
- Installment amount and tenure are fixed at account opening and cannot be changed later
- Multiple accounts can be opened individually or jointly
Flexible Recurring Deposit
A flexible savings plan with no fixed monthly installment.
- Minimum deposit: Nu.100, with no maximum limit
- Deposits can vary month to month based on the customer’s convenience
- Maturity amount is indicative and may vary depending on actual deposits
Features
- The overdraft facility can be availed by pledging this account.
- It can be opened in the name of minor under the natural guardianship of parents or legally appointed regent.
- Monthly installment will be auto-linked with a Savings Deposit Account or Current Deposit Account and on maturity, the amount will be directly credited to the auto-linked accounts.
- A Recurring Deposit (RD) can be closed before maturity; however, the interest payable will be 1% lower than the applicable rate for the contracted tenure corresponding to the period the deposit was actually held with the bank.
Documents Required
- Recurring Deposit Opening Form
- 1 copies of passport sized photographs
- 1 Legal Stamp
- Valid CID copy
- CID Copy for Bhutanese, Passport/Work Permit for Non-Bhutanese and For Minor, CID of the parent/guardian and a copy of the minor’s Health Card
Interest Rate
Sl. No | Deposit Period | Rates(%) ( P.a ) |
|---|---|---|
1 | 91 days to less than 180 days | 5.00% |
2 | 180 days to less than 270 days | 5.50% |
3 | 270 days to less than 1 year | 5.75% |
4 | 1 year to less than 2 years | 6.75% |
5 | 2 years to less than 3 years | 7.25% |
6 | 3 years to less than 4 years | 8.00% |
7 | 4 years to less than 5 years | 8.00% |
8 | 5 years to less than 7 years | 8.25% |
9 | 7 years to less than 10 years | 8.50% |
10 | 10 years and above | 9.00% |
Individuals (Bhutanese or Non Bhutanese)
Jointly/Either or Survivor/Anyone or Survivor
On behalf of minors (by a parent or legal guardian)
Need a Saving Account /Current Account with T Bank
Simple Recurring Deposit
A savings plan where a fixed amount is deposited monthly for a predetermined period.
- Minimum monthly installment: Nu.100, in multiples of Nu.100
- Minimum tenure: 91 days
- Maximum tenure: 10 years and above
- Installment amount and tenure are fixed at account opening and cannot be changed later
- Multiple accounts can be opened individually or jointly
Flexible Recurring Deposit
A flexible savings plan with no fixed monthly installment.
- Minimum deposit: Nu.100, with no maximum limit
- Deposits can vary month to month based on the customer’s convenience
- Maturity amount is indicative and may vary depending on actual deposits
- The overdraft facility can be availed by pledging this account.
- It can be opened in the name of minor under the natural guardianship of parents or legally appointed regent.
- Monthly installment will be auto-linked with a Savings Deposit Account or Current Deposit Account and on maturity, the amount will be directly credited to the auto-linked accounts.
- A Recurring Deposit (RD) can be closed before maturity; however, the interest payable will be 1% lower than the applicable rate for the contracted tenure corresponding to the period the deposit was actually held with the bank.
- Recurring Deposit Opening Form
- 2 copies of passport sized photographs
- Legal Stamp
- CID copy
- CID Copy for Bhutanese, Passport/Work Permit for Non-Bhutanese and For Minor, CID of the parent/guardian and a copy of the minor’s Health Card
Sl. No | Deposit Period | Rates(%) ( P.a ) |
|---|---|---|
1 | 91 days to less than 180 days | 5.00% |
2 | 180 days to less than 270 days | 5.50% |
3 | 270 days to less than 1 year | 5.75% |
4 | 1 year to less than 2 years | 6.75% |
5 | 2 years to less than 3 years | 7.25% |
6 | 3 years to less than 4 years | 8.00% |
7 | 4 years to less than 5 years | 8.00% |
8 | 5 years to less than 7 years | 8.25% |
9 | 7 years to less than 10 years | 8.50% |
10 | 10 years and above | 9.00% |
