Abhivruddi & Vidyavruddi (RD)

Abhivruddi & Vidyavruddi (RD): A recurring deposit account is generally opened for a purpose to be served at a future date. Generally opened to finance pre-planned future purposes like wedding expenses, purchase of expensive items like land, luxury car, refrigerator, furniture, education etc.


  1. The main objective of the recurring deposit account is to develop regular savings habit among the public.
  2. The minimum amount that can be deposited is Rs.100 at regular intervals.
  3. The period of deposit is minimum 1 year and maximum 10 years.
  4. The rate of interest is higher equivalent to term deposit and preferential rate of interest will be given to Vidyavruddi scheme (Minimum period 3 years).
  5. No withdrawals are allowed. However, the Co-operative may allow closing the account before the maturity period.
  6. The Co-operative provides the loan facility. The loan can be given up to 75% of the amount standing to the credit of the account holder.