Corporation Bank - Millionaire RD Interest Rates 2025

A Corporation Bank recurring deposit account  can be opened as a single or joint account by individuals. Minors with their parents and guardians, societies, associations, institutions, HUFs, trusts, administrators, Government departments and clubs are eligible to open a Corporation Bank million RD Account .

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Features of Corporation Bank - Millionaire Recurring Deposit Account

1. If a customer wants to open a Millionaire RD account they have to contact the nearest Corporation Bank branch. If the customer is new, then documents like Address Proof and Identity Proof have to be provided.
2. If a customer makes premature withdrawals, then a penalty of 1% on the interest for the period the deposit has been with bank or on the agreed interest rate, whichever is lower is charged.
3. Corporation Bank customers can take loans up to 90% on the balance available in their deposits.
4. TDS is not applicable on Millionaire RD Accounts.
   

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1. For recurring deposits below Rs. 1 crore, the interest rate charged is 8.75% for tenures ranging from 1 year to 10 years.
2. For senior citizen recurring deposit accounts below Rs. 1 crore, the interest rate charged is 9.25% for tenures ranging from 1 year to 10 years.

Regular Recurring Deposit Tenure	Monthly Instalment Amount	Maturity Amount
st	79,500	1,000,104
nd	38,100	1,001,925
rd	24,300	1,002,491
th	17,400	1,001,625
th	13,300	1,002,144
th	10,600	1,004,262
th	8,700	1,008,221
th	7,200	1,000,405
th	6,100	1,000,934
th	5,300	1,014,967.

RD Articles pages

1. Recurring Deposit Vs. Chit Fund
2. Miss to Pay the Recurring Deposit Due
3. Difference Between Recurring Deposit and SIP
4. Open RD Account through HDFC NetBanking
5. RD Account in SBI
6. Advantages of Recurring Deposit
7. Flexi RD
8. SBI Flexi RD Schemes
9. Monthly Recurring Deposit
10. Co-operative Bank Recurring Deposit
11. City Union Bank Recurring Deposit
12. Indian Bank Recurring Deposit
13. Union Bank Recurring Deposit
14. UCO Bank Recurring Deposit

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FAQs on Corporation Bank - Millionaire Recurring Deposit Interest Rates

• What is the minimum deposit period for an RD account with Corporation Bank?

  The minimum deposit period for an RD account with Corporation Bank is 1 year.

• What amount must you have in your account to start an RD with Corporation Bank?

  In rural and semi-urban branches, the minimum deposit amount is Rs.50, and in all other bank branches, the minimum deposit amount is Rs.100. 

• What is the maximum deposit period for an RD account with Corporation Bank?

  The maximum deposit period for an RD account with Corporation Bank is 10 years. 

• What is the document required to open a RD account in Corporation Bank?

  The documents required to open an RD account in Corporation Bank are identity proof and address proof. You can use your Aadhaar card, PAN card, passport, etc. As documents. 

• Who is eligible to open an RD account with Corporation Bank?

  An individual, joint individuals, minor represented by parents, organizations, societies, associations, educational institutions, trusts, businesses, partnerships, joint stock companies, administrators, executors, HUFs, and government agencies can open an RD account with Corporation Bank.