IFSC Code : IBKL0497LUC

Recurring Deposit

A systematic disciplined approach for future.

We, Latur Urban Bank ,understands the importance of systematic planning to make financial provision for future goals.LUB encourage your regular savings,where you can invest fixed amount every month for a certain period.Invest monthly and turn into huge return at maturity.

Other:

  • Minimum initial deposit amount is Rs.100/- or multiples thereof with no. Ceiling for the maximum deposit amount
  • Premature Withdrawal is Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
  • As per changes in Finance bill 2015,TDS on deposits is also applicable to members(share holders) at Bank level instead of Branch level. As per sec 206AA,every person who earns interest on whom TDS is deductable furnish a PAN or TDS would be deducted at 20%(instead of 10%)
  • Form 15G/15H can be submited if total income from all sources does not exceed basic exemption limit. In absence of PAN, 15G/15H is invalid.
  • Identity proof, address proof and 2 recent passport size photos are required to open an account.d
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