Federal Bank RD Xtra Gain is a two-in-one product. Apart from offering all the features and benefits of a regular recurring deposit scheme, it provides a loan as well.
Know more about Recurring Deposit
Features of Federal Bank RD Xtra Gain:
- Federal Bank RD Xtra Gain account offers loan at any time after a period of 12 months.
- The amount of loan is fixed and is based on the future 5 years RD installments.
- Account holders can choose to discontinue the RD facility after availing the loan service.
- Retail customers with good Average Monthly Balance and repayment history need a minimum of 6 prompt RD installments only to avail the loan.
- The installment amount will remain the same even after the loan is provided.
- This scheme is supported by more than 1000 branches of the bank.
- Customers can repay the loan amount in installments or through one lump sum payment.
Documents Required for RD Xtra Gain Account:
- Copy of Passport as proof of identity.
- Recent photograph (passport size).
- Proof of Address.
- Existing RD account holders whose:
- Minimum monthly installment is Rs.1,000.
- Minimum tenure for RD is 24 months.
- Existing RD account holders who have promptly remitted their recent 12 installments. These customers are eligible for taking the loan.
- In case of loan, at the end of the tenure the maximum age of the borrowers should be 60 years or the age of retirement (whichever occurs first).
- The spouse has to co-oblige in case of loan.
RD Interest Rate Pages
- United Bank RD Interest Rates
- Uco Bank RD Interest Rates
- Allahabad Bank RD Interest Rates
- Central Bank RD Interest Rates
- Federal Bank RD Interest Rates
- Indian Bank RD Interest Rates
- Andhra Bank RD Interest Rates
- Kotak Mahindra RD Interest Rates
- Syndicate Bank RD Interest Rates
- IOB RD Interest Rates
- City Union Bank RD Interest Rates
- Citybank RD Interest Rates
- Indusind Bank RD Interest Rates
- Corporation Bank RD Interest Rates
- BOM RD Interest Rates
RD Article Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes