8/1/2017 StarFlexiRecurring

Corporate Site | Global Sites About us Investor Corner Career FOREX Card Rate Service charges Interest Rate Contact Us

[+] [-] | Skip to navigation | Skip to main content | Contrast Scheme : Search here

1800 220 229 ,1800 103 1906,

Corporate Rural MSME Retail NRI Cards/ATM 022 40919191
Click for more details

You are here Retail Retail-Deposit StarFlexiRecurring

Quarterly Deposit Announcement Start | Stop

Double Benefit Deposit

Fixed Deposit

Short Deposit

Monthly Deposit
Press Release from IBA
Recurring Deposit

Penalty Details
STAR FLEXI-RECURRING DEPOSIT SCHEME Integrity Pledge Count

Public Notice for Unclaimed

Star Flexi Recurring Deposit offers flexibility to invest surplus fund

Star Flexi Recurring Deposit scheme is a unique Recurring Deposit scheme which offers flexibility to the
customer to choose core installment and to also choose monthly flexi installments in multiples of the core
installment.

Eligibility: Individuals & Joint Accounts (Including Minors).

Nomination Facility: Available

Minimum Core Monthly installment amount:

Rs.500/- and in its multiples - In respect of Metro and Urban branches
Rs.100/- and in its multiples - In respect of Rural and Semi-Urban branches

Minimum amount of Monthly Installments: No Upper Limit.

Flexi Installment: Any amount in multiples of core monthly installment initially opted at the time of opening
of account.

Maximum Flexi installment can be any number of times of the core monthly installment.

Period: Minimum 12 months & Maximum 10 years. (In multiples of 3 months only)

Interest Rate:
Core Installments (Fixed Rate) : As applicable for the period for which the A/c is opened.
Flexible Installments: Applicable rate at the time of deposit of the Flexible installment.*
* For e.g. A customer opens a Flexi RD account on 01/06/2014 for 5 years with Core installment of
Rs.1000/-. Customer will get interest @ 9.05% (then prevailing card rate) for Core portion of Rs.1,000/- for
5 yrs.
If onDo
Browsed Pages AML/KYC controls 01/08/2014, customerFeedback
Not Call Registry deposits Rs.5,000 in his
Staff Portal account, Sitemap
Download then for flexi portion of
Disclaimer Rs.4,000/-,
Photo Gallery heInoperative
would / Unclaimed Account CSR
get Interest for 4 yrs and 9 months at the rate prevalent on 1-08-2014. Thus, there would be multi rates of
http://www.bankofindia.co.in/english/StarFlexiRecurring.aspx 1/3
8/1/2017 StarFlexiRecurring
interest in the A/c.

Penalty: As per applicable rules for delay / non-receipt of core installments.

Maturity Value: No fixed Maturity Value

Other terms and conditions:

i. No advance core installments. Amount deposited above core installments will be considered as
Flexi installments for that month provided that such Flexi Installments are in multiples of core
installment.
ii. Standing Instructions will be accepted only for the core installments.
iii. Core Installment would be a fixed amount, to be decided at the time of opening the RD A/c. It
cannot vary subsequently.
iv. Core installment would have to be paid every month, to avoid penalty.
v. Core Installments cannot be paid in advance.
vi. Flexi installment would be in multiples of core installments chosen at the time of opening of
Flexi RD A/C and can be deposited only once in a month.
vii. Flexi installment can be maximum of any number of times of the core installment.
viii. There would be only one maturity date for both core and flexi portions.
ix. Flexi installment and the core installment need not be deposited together. They can be paid on
different dates in the same month.
x. Standing instructions can be accepted only for the Core installment. No standing instruction would
be accepted for Flexi installments.
xi. No Flexi installment would be accepted in the last month of the RD A/c. (i.e. if a RD A/c is opened
for 36 months, Flexi installment can be accepted from the 1st to the 35th month only).
xii. No Passbooks will be issued for Flexi RD Accounts. Only system-generated statements are to be
issued to the customers.
xiii. No auto-renewal of the maturity proceeds permitted. Instead, the proceeds may be credited to SB
A/c. if no other instructions are received.
xiv. In case there are any core installments in arrears, any extra amount deposited by the customer,
would first go to adjust the defaulted core installments. Previously paid flexi installments cannot be
adjusted towards future core installments.
xv. Normal penalty rules would apply for delayed credits of the core installments. No penalty would
however, apply for non-payment of flexi installments, as these are purely optional. Present penalty
rules are as under for the core installments:
Rs.1.50 per Rs.100/- p.m. for deposits of 5 years and less;
Rs.2.00 per Rs.100/- p.m. for deposits of over 5 years.
xvi. In the case of premature closure of a Flexi RD A/c, no interest would be payable on the core & Flexi
installments, if the A/c is closed within 3 months of opening the same. If the A/c is closed after 3
months, but before maturity, normal penalty rules for premature closure would apply (i.e. compound
interest at the reduced rate for the completed quarters and simple interest at the reduced rate for
the last broken quarter, for the respective deposits).

Top

Treasury AML Questionnaire Regulatory Disclosure Section US Patriot Act Auditors of the Bank Agricultural Debt Waiver List of Debt Recovery
agents List of DRT Nodal Officer Pension grievance redressal officers Consultants for TEV studies Lenders' Independent Engineer (LIE) PMRY
Citizen Charter RSETI RBI Monetary Museum General Information on RBI Monetary Museum Human Resources Relief Policy
Browsed Pages AML/KYC controls Do Not Call Registry Feedback Staff Portal Download Sitemap Disclaimer Photo Gallery Inoperative / Unclaimed Account CSR

http://www.bankofindia.co.in/english/StarFlexiRecurring.aspx 2/3
8/1/2017 StarFlexiRecurring

2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768

Browsed Pages AML/KYC controls Do Not Call Registry Feedback Staff Portal Download Sitemap Disclaimer Photo Gallery Inoperative / Unclaimed Account CSR

http://www.bankofindia.co.in/english/StarFlexiRecurring.aspx 3/3