Overview of DHFL
DHFL was founded in 1984, with a vision to provide affordable housing finance to lower and middle income groups especially in the semi-urban and rural parts of India. As one of the earliest housing finance companies to be established, DHFL has been encouraging the general population to own their dream homes with affordable financing options and tailor made home loans to suit their requirements. Based out of Mumbai, DHFL has collaborated with leading banks like Punjab & Sind Bank, Central Bank of India, United Bank of India and YES bank to offer home loans to Indian customers. DHFL provides a vast array of home loan products, insurance services and fixed deposit schemes and these can be procured from any DHFL office located across 365 locations in the country.
Recurring Deposit (RD) From DHFL
‘Small Savings Scheme’ is a recurring deposit plan from DHFL offering customers flexible deposit amounts and tenures to choose from. Recurring deposits help individuals to plan for a future expenditure and save the required funds for that over a period of time. The advantage of opening a recurring deposit account is that customers can save steadily by contributing small amounts monthly and can earn a lump sum at the time of maturity of their deposits. The account holder can decide on the deposit amount and tenure of his deposit depending on his financial situation.
Features of a DHFL Recurring Deposit - Small Savings Scheme
DHFL customers can earn substantially from their recurring deposit accounts with attractive interest rates and open an account without any hassles.
- DHFL offers the option of holding short, medium or long term deposits with flexible tenures.
- DHFL recurring deposit accounts require a minimum deposit amount of Rs 500 per month and can be increased in multiples of 100. The company does not have any cap on the maximum installment amount for a recurring deposit. The deposit amount can also be brought down by the account holder is he wishes to do so, but the sum should not be below the first installment amount that was chosen.
- The deposit tenure chosen can fall anywhere between 12 to 120 months.
- DHFL allows joint RD accounts to be held and also provides the ECS debit facility for interest payouts.
Interest Rates offered on DHFL Recurring Deposits
DHFL Recurring deposits can be opened with a minimum deposit amount of Rs 500/- at an interest rate of 9.50% per annum for varying deposit tenures.
Process for Opening a Recurring Deposit account with DHFL
Customers intending to apply for a DHFL recurring deposit account can visit any of the DHFL offices and submit the filled-in application form along with the required documents to open an account. The company also gives the option of placing requests via their web portal where an applicant has to enter a few personal details along with the selected RD scheme. A DHFL official will get in touch with the applicant for processing the RD account application further.
Know the Current Recurring Deposit Rates
- DHFL Recurring Deposit Interest Rates Comparison with Other Banks and Institutions
- DHFL Recurring Deposit Interest Rates