Sunrise Bank has launched Sunrise Recurring Deposit account to provide a combined benefit of saving and deposit accounts to its valued customers.
Under the scheme, customers can opt for 1 year to five years long deposit account where they can make regular deposits in a daily, weekly or monthly basis. Customers need to have minimum opening balance of Rs 1000 and can proceed with regular deposits with Rs 500 or in its multiple.
Customers can receive high interest yield for their saving in the rate of FD product which will be payable quarterly and one can also get upto 90% of the deposited amount as credit when needed, as per the media statement. The bank currently provides 9.75% interest to its FD account holders and the interest rate for the new recurring product will be adjusted as per the changes in market, as per the statement.