Section 5: Deposits

National Savings Recurring Deposit Scheme 2019Central Rules · 1873

(1) Subject to the provisions of sub-paragraphs (2) to (4) and paragraph 10, an account holder shall make sixty monthly deposits in an account.

(2) The minimum amount of monthly deposit in an account shall be one hundred rupees or any sum in multiples of ten rupees.

(3) The first monthly deposit shall be made at the time of opening of the account and the amount of such deposit shall be the denomination of the account.

(4) Subsequent deposits equal to the first deposit shall be made upto the fifteenth day of each month, if account is opened before the sixteenth day of a calendar month; and upto the last working day of each month, if the account is opened between the sixteenth day and the last working day of a calendar month.

Where this provision sits

Act	National Savings Recurring Deposit Scheme 2019
Section	5
Marginal note	Deposits
Jurisdiction	Central
Status	In force as published by the source

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