A Recurring Deposit Account (RD) offered by Paramount Global Bank is a systematic savings scheme designed to help individuals accumulate savings over time by depositing a fixed amount regularly.

Features of Paramount Global Bank Recurring Deposit Account:

1. Fixed Monthly Deposits: Account holders deposit a fixed amount each month, with flexibility to choose based on financial capacity.

2. Flexible Tenure: Choose a deposit period ranging from 6 months to 10 years, which determines the maturity date and applicable interest rate.

3. Attractive Interest Rates: Competitive rates compounded quarterly for enhanced returns.

4. Low Entry Barrier: Minimum deposit starts as low as $50 or equivalent.

5. Auto-Debit Facility: Link to your savings or current account for automated monthly deposits.

6. Premature Withdrawal Option: Withdraw early in emergencies with nominal penalties.

7. Loan Against RD: Avail loans up to 90% of the deposit value.

8. Secure and Guaranteed Returns: Risk-free returns make it an ideal option for conservative savers.

Benefits: Disciplined savings, wealth accumulation through compounding, financial flexibility, risk-free returns, and potential tax benefits (based on jurisdiction).

How to Open: Visit a Paramount Global Bank branch or their online platform, submit required documents, choose the deposit amount and tenure, and set up auto-debit instructions.

For detailed terms, conditions, and current rates, consult Paramount Global Bank's customer service or their website.