Recurring Deposit Account

  • Home
  • Banking
  • Recurring Deposit Account
image
image
image
image
image
image
Get More From Your Money

Reach Your Savings Goal With Us

Heritage Bank offers you a fixed interest on the invested amount at a specific frequency till the pre-determined term or upon maturity. At the end of the term, the amount upon maturity (which is your invested capital) along with remaining or accumulated interest is paid.

  • Instant Account Opening
  • Exciting Offers & Discounts
  • Earn up to 7% Interest
  • Secure Internet Banking
  • Free SMS Alerts
  • Paperless Banking
Savings Account Options

Choose The Right Savings Account For Your Financial Goals

Regular Savings Account

Our basic savings account with no minimum balance requirements and easy access to your funds.

Learn More

High-Yield Savings

Earn higher interest rates on your savings with our premium savings account option.

Learn More

Money Market Account

Combine the benefits of checking and savings with higher interest rates and check-writing privileges.

Learn More

Certificates of Deposit

Lock in guaranteed rates for fixed terms from 3 months to 5 years for maximum growth.

Learn More
Account Features

Smart Features To Help You Save More Effectively

image

Automatic Savings

  • Set up recurring transfers from checking to savings accounts.
  • Round-up debit card purchases and save the difference automatically.
  • Customize transfer frequency and amounts to match your budget.
image

Goal-Based Savings

  • Create multiple savings goals within your account.
  • Track progress toward specific financial objectives.
  • Receive notifications when you reach savings milestones.
image
Our Recurring Deposit Benefits

We Help Businesses and Customers Achieve More

image

Earn Interest up to 7%

We offer the highest interest rates in the market to help your savings grow faster.

image

Free SMS Alerts

Stay informed with free SMS banking alerts for all your transactions.

image

Paperless Banking

All our transactions are handled electronically for your convenience.

Eligibility Criteria

Eligibility to Open Recurring Deposit Account

Nationality

Canadian Residents, and Non-Resident individuals

Age

18 Years old or above

Required Documents

Documents Required for Opening Account

For Residents

  • Passport
  • Driving License
  • Aadhaar Number
  • Voter's Identity Card

For Non-Residents

  • Passport
  • Visa
  • Bank Statement (If any)
  • Company Proof
Frequently Asked Questions

Let's Answer Some Of Your Questions Or Frequently Asked Questions

A recurring deposit is an investment product where you deposit a fixed amount monthly. The principal amount invested earns interest at regular intervals and the lump sum is handed over to the depositor at the time of maturity.

Interest rates vary from 3% to 7% per annum depending on the deposit amount and tenure. Senior citizens get an additional 0.5% interest on their deposits.

Yes, premature withdrawal is allowed with a penalty. The interest rate applicable will be lower than the contracted rate for the period the deposit was held.

image
Ready to Start Saving?

Open a Heritage Bank Recurring Deposit Account Today and Start Building Your Wealth

image
image