Repco Bank Fixed Deposit (FD)
Repco Bank offers several Fixed Deposit (FD) schemes at attractive interest rates with a tenure ranging from 30 days to 5 years. Loans can be availed against the funds that are available in the deposit.
Different FD Schemes Offered by Repco Bank
The different FD schemes that are offered by Repco Bank along with their features and interest rates are mentioned below:
Repco Thanga Mahal
- Specially designed for girl children less than 18 years old.
- Deposit tenure ranges from three years to five years.
- Interest payment is made on maturity.
- On pre-closure of the deposit, the scheme charges 1.00% less than the standard rate of interest as a penalty.
- Loan on deposit is offered to the girl.
- The interest rate offered under this scheme is 7.75%.
Repco Anbu Magan
- Specially designed for boy children less than 18 years old.
- The deposit period ranges from three years to five years.
- Interest payment for Repco Anbu Magan is made on maturity.
- On pre-closure of the deposit, the scheme charges a penalty of 1.00% less than the applicable rate of interest.
- Loan on deposit is offered to the boy.
- The interest rate offered under this scheme is 7.75%.
Mahila Income
- Only individual female Members can opt for the Mahila Income deposit.
- Minors can avail the facility.
- Loans are provided.
- Joint accounts and single accounts can be opened. In the case of a joint account, the first depositor must be a female.
- The duration of the scheme is 18 months.
- The rate of interest that is offered is 8.00% p.a.
- No age bar.
- Premature withdrawal is allowed. However, a fee will be levied in the case of premature withdrawal.
Fixed Deposit
- All Members are eligible to opt for the scheme.
- Loans can be availed.
- Single accounts and joint accounts can be opened.
- Premature withdrawal facility is offered. A fee will be charged in the case of premature withdrawal.
- Interest is paid either yearly, half-yearly, quarterly, or monthly.
Repco Bank FD Rates for Deposits Above ₹3 Crore
Tenure | Bulk Deposit (Rs.3 crore and above) |
30 days - 45 days | 3.75% |
46 days - 89 days | 4.25% |
90 days - 364 days | 6.00% |
12 months | 7.00% |
Above one year – up to two years | 7.00% |
Above two years – up to three years | 7.00% |
Above three years – up to five years | 5.75% |
Monthly Payment (24 months) | - |
The above-mentioned interest rates are effective from 20 May 2024. Repco Bank can revise the interest at any given time.
Documents Required
The general documents that must be submitted to open an FD account with Repco Bank are mentioned below:
- Passport-sized photographs.
- Application form.
- Proof of address.
- Proof of identity.
- Proof of age.
Any other documents that are requested by the bank must be submitted as well.
FAQs on Repco Bank Fixed Deposit (FD)
- What is FD rate of Repco Bank?
Repco Bank provides FD rates of 4.25% to 7.75% p.a. to the general public and 4.25% to 8.25% p.a. to senior citizens on tenures ranging from seven days to five years. Apart from this, they also have schemes like REPCO Mahila, REPCO 56, REPCO 400 (Fresh), which provide interest rates of 8.00%, 8.25%, and 8.00%, respectively. While Repco Thanga Magal, and Repco Anbu Magan provide rate of interest of 7.75%.
- What is REPCO 400?
REPCO 400 is a special FD scheme which was launched on 2 December 2024. It provides interest rates of 8.00% for general citizens and 8.50% for senior citizens. This 400-day special FD scheme also provides a loan facility to its accountholders.
- What is REPCO ANBU MAGAN scheme?
REPCO ANBU MAGAN scheme was launched by Repco Bank on 18 March 2024. This scheme is especially introduced for boy children with an aim to empower and ensure their welfare. The scheme comes with a minimum tenure of three years and maximum tenure of five years.
- Is there any special FD scheme of Repco Bank for girl children?
Yes, REPCO THANGA MAGAL is a special FD scheme for girl children which aims to empower and ensure the welfare of girl children. Launched on 18 March 2024, this scheme comes with a minimum and maximum tenure of three years and five years, respectively. Although the bank provides loan facility on this deposit, the loan amount can only be used for medical as well as education expenses of the girl child.
- What is the eligibility criteria is the Repco Bank FD?
To open a general FD account with Repco Bank, you need to have a savings account with the bank. However, in the case of special FD schemes, the eligibility criteria vary from scheme to scheme.
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