A Recurring Deposit (RD) at Galaxy Multistate Co-operative Society, Phaltan lets you save a fixed amount every month and earn attractive interest on your growing corpus. Ideal for salaried individuals, homemakers, and anyone building disciplined savings.
A Recurring Deposit is a savings scheme where you deposit a fixed amount every month for a chosen tenure. At the end of the tenure, you receive your total deposits plus the accumulated interest as a lump sum that reflects your consistent saving habit. At Galaxy Multistate Co-operative Society, our RD scheme offers competitive interest rates with flexible installment options to suit your budget.
| Sr. No. | Tenure | Interest Rate (% p.a.) |
|---|---|---|
| 1 | 6 Months | 8.00% |
| 2 | 9 Months | 8.00% |
| 3 | 12 Months | 9.00% |
| 4 | 24 Months | 9.25% |
| 5 | 36 Months | 9.50% |
Visit Galaxy Multistate Co-operative Society, Phaltan branch.
Choose your monthly installment amount and preferred tenure.
Submit Aadhaar card, PAN card, and 1 passport-size photograph.
Make your first installment to activate the RD account.
Pay monthly — online via mobile banking or at the branch.
A Recurring Deposit suits members across Phaltan, Lonand, Dahivadi, and the Akluj corridor who don't have a lump sum ready but can commit to a fixed monthly amount. Unlike a Fixed Deposit, where the full amount is deposited upfront, an RD lets the corpus build gradually, making it a practical choice for salaried employees, homemakers managing household budgets, and small business owners setting aside monthly surplus.
The longer the tenure chosen, the higher the applicable interest rate, moving from 8.00% on shorter 6 to 9-month tenures up to 9.50% on a 36-month commitment. This structure rewards members who can commit to a longer, more disciplined savings period. Once the RD reaches maturity, many members reinvest the lump sum into a Fixed Deposit or the Lakhapati Scheme to continue growing their savings with Galaxy Multistate. Installments can be paid either at the Phaltan branch or through mobile banking, making it convenient for members who travel for work or live outside the immediate Phaltan area but remain within the Satara service region.