Account can be opened by an individual, HUF, with a minimum amount of Rs.100/- Per Month no maximum limit. Account can be opened for 1 year to 7 years Please refer interest chart for rate of interest.

Requirement for opening Recurring account :-

2 Photo

Completion of Know Your Customer formalities 

(i) ID Proof : ( Any one required )

• Passport,
• PAN card,
• Election Card,
• Driving Licence,
• Aadhar card etc.

Where the photo has been affixed and self-attested by the applicant. 

(ii) Address proof : ( Any one required )

• Ration Card,
• Electricity Bill,
• Telephone Bill,
• Credit card statement,
• Salary Slip with address,
• Bank account statement with address,
• address authenticated by the employer etc.

where address has been given.

In case of HUF constitution of HUF

4) TDS at prevalent rate is deducted at source if Form 15G/15H not submitted. If PAN No. Is not provided then TDS will be deducted @20% wef June 2015.