Who can open recurring deposit  

Resident Individuals (individually or jointly)

By a natural guardian, i, e. father or mother on behalf of a minor in which case the date of birth should be declared at the time of opening of account or by a guardian appointed by Court and

A Co-operative Society through the persons authorized by its Board of Directors.
 Minimum Instalment amount  Rs. 100/-
 Documents required  

Identity Proof and Address Proof: Passport/Aadhar card/ Driving Licence/voter ID card

PAN card

Photographs

Note : Aadhar card is mandatory to open account
 Payment of monthly installments  Every Depositor shall pay the monthly deposit amount before the end of the month. Standing instructions from the Depositor for transfer of monthly installments from his/her savings Bank or Current accounts till the deposit matures will be accepted by the Bank and such transfers will be effected by the Bank, free of the charge.
 Pass book  Each Depositor will be supplied with a pass book of such deposit in which the payment made in each month will be entered and acknowledged by the officer of the Bank.
 Nomination  Nomination Facility is available.
 Loan on recurring deposit  The Bank may grant loans on the security of Recurring deposit accounts not exceeding 85% of the balance at credit fixed by the Bank from time to time.
 Rate of Interest
 Tenure  ROI
 1 year to less than 2 years  6.50%
 2 years and above but less than 5 years  6.50%

  *(Additional 0.50% for Senior Citizens) 

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0824 - 2421369, 2445742

MCC Bank Ltd
Mulki Sundaram Shetty Road,
Hampankatta, Mangalore - 575001

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0824-2421369, 2445742

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