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The Bharat Sanchar Nigam Limited (BSNL) is an Indian state-owned telecommunications company that provides a wide range of services to millions of customers across the country. One of its services is the Recurring Deposit (RD) scheme, which is a safe and flexible investment option that allows customers to save a fixed amount of money every month and earn interest on it.
The BSNL RD Agreement is a document that outlines the terms and conditions of the RD scheme. It is a legal contract between the customer and the company, which ensures that both parties are aware of their rights and obligations.
The following are the key features of the BSNL RD Agreement:
1. Minimum investment amount: The minimum investment amount for the BSNL RD scheme is Rs. 100 per month, and the maximum is Rs. 10,000 per month.
2. Tenure: The tenure of the RD scheme can range from 6 months to 120 months (10 years).
3. Interest rate: The interest rate offered by BSNL on the RD scheme is subject to change from time to time. The prevailing rate is usually announced at the beginning of the financial year.
4. Premature withdrawal: The RD scheme allows customers to make premature withdrawals, but they will have to pay a penalty for doing so.
5. Nomination: Customers can nominate a person to receive the maturity amount in case of their death.
To open an RD account with BSNL, customers need to fill out an application form and submit it along with the required documents. The documents required include proof of identity, proof of address, and a passport-sized photograph.
In conclusion, the BSNL RD Agreement is a legal contract that safeguards the interests of both the customer and the company. Customers who wish to invest in the RD scheme should carefully read the agreement and understand its terms and conditions before signing it. By doing so, they can ensure a safe and fruitful investment experience with BSNL.
