MYSORE: Indian Overseas Bank will be launching “Gold RD” at a function at Sahakara Bhavana on Chamaraja Double Road on October 22, according to a release. It is a unique scheme where a customer can open a recurring deposit account with a minimum of Rs. 250 or multiples of Rs. 50 or Rs. 100 a month, for a period of 12 to 24 months. On maturity, the customer will receive the proceeds in the form of gold coins worth the maturity amount, instead of cash. The bank will also offer a personal accident cover up to Rs. 1 lakh, according to a release. — Staff Correspondent

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