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Progressive Finance Limited

Integrated Fixed Recurring Deposit

A deposit product in which the customer can get the facility of both products of Fixed Deposit and Recurring Deposit in an integrated form at a predetermined rate of interest for a fixed period shall be called Integrated Fixed Recurring Deposit(IFRD).

1. Tenure -1 to 10 years

2. Interest RateIndustry maximum rate on Fixed Deposit.

3. Minimum Initial IFD amount– Rs25,000 to Rs 10,000,00   in the multiple of Rs25000 only.

4. USP- Integrated Fixed Recurring Deposit:

  • Free ASBA facility
  • Free D-mat account opening facility
  • Special discount on Mobile banking facility
  • One percent increment on interest rate as confirmed through remittance
  • Insurance coverage as per the rules of organization.

5. Benefits to Valued Customer:

  • Better investment option
  • 200% increment on original investment (Customer opting long term option)
  • Creation of handsome fund for retirement, children education, and others assets purchase on future
PeriodInterest Rate p.a (Monthly Payment)TenureMinimum & maximum Balance
Integrated Fixed Deposit (IFD)8.25%1 Year and aboveRs. 25,000 - Rs. 10,00,000
Integrated Recurring Deposit (IRD)8.25%1 Year and aboveRs. 25,000 - Rs. 10,00,000