May 30, 2022
Recurring Deposit by Muthoottu Mini Nidhi Kerala Ltd is intended to promote the investment habit especially among salaried or daily wage group. Our Easy monthly instalments with attractive interest rate will enable our members to build up a substantial principal, within 1 to 3 years.
The minimum amount to be deposited by the Depositor/s shall be Rs.1,000 which can be increased in multiples of Rs.500/-.
Our Interest rates are very competitive compared to the scheduled commercial banks.
Payments: Instalment payment can be made by way of cash/cheques/Bank Transfers. In case of cheque payment of first instalment, date of credit will be considered as opening day for the deposit. For subsequent instalments, if the depositor makes payment through cheque and the cheque has not been cleared on the said instalment date, then interest will be reduced to the extent of cheque cleared date. ECS (Nach) payment is not permitted in RD Account.
Pass Book: All depositors shall be provided with an official Pass Book duly filled and signed by the branch officials appending his name and post held.
On Maturity, RD amount can be converted as FD based on the written request of the account holder/s.