Karnataka Vikas Grameen Bank (KVGB) launched a flexi recurring deposit scheme on Friday. S Ravindran, Chairman of the bank, said deposits can be made at customers’ convenience.
There will not be any penalty for late payment or premature closure. Amounts ranging from ₹500 to ₹1 lakh can be deposited every month in order to get a lumpsum after the fixed term, he said.
A press release said here that Ravindran also inaugurated the bank’s 83rd onsite ATM at Adaragunchi village in Hubballi taluk of Dharwad district on Friday.