Caution

If you receive any calls (except from BoB Contact Center when you have lodged a concern with them +975 2 349903), SMS and Email asking for personal details such as Account number or ATM Card number, please do not share. Bank of Bhutan will never ask for personal details of clients. It’s all spam.

Home Personal Banking Deposits Simple Recurring Deposit

Simple Recurring Deposit

Simple Recurring Deposit is a Product under Recurring Deposit, where there is no maximum limit on the monthly installment.

AMOUNT LIMIT

  • Minimum Installment for opening Recurring Deposit is – Nu. 100
  • Maximum Installment for opening Recurring Deposit is – No limit

INTEREST RATE

CLICK HERE to view the interest rate.

TENURE

  • Minimum 1 year
  • Maximum 20 years

LOAN FACILITY

Customers can avail loan against Simple Recurring Deposit.

DEFAULT PAYMENTS

1% of the installment for each defaulted month.

PREMATURE WITHDRAWAL

Simple Recurring deposit can be broken before the maturity date. The interest rate will be 1 % less on the interest rate of the contracted year for the period for which the deposit is actually maintained with the bank. However, if the RD is closed before 3 months, the customer will not be eligible for interest.

REQUIRED DOCUMENTS

EligibilityDocuments Required
For Individual Account✓ Copy of a valid Passport / Citizenship ID Card
✓ Two Passport sized photographs
✓ Legal stamp
For Non-Bhutanese Individuals✓ Work Permit copy
✓ Passport copy
✓ Legal stamp
✓ Two Passport sized photographs
For Minor Account✓ Photocopy of a valid Passport / Citizenship ID Card of parents or guardian
✓ Two Passport sized photographs of the Guardian
✓ Minor’s Health Card

Downloads / Links

Simple Recurring Deposit Account Opening Form Claim Nomination Form