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Corporation Bank Recurring Deposit Interest Rates 2020

Corporation bank offers you attractive interest rates when it comes to investing in recurring deposits. The lender offers you a rate of interest that ranges between 4.75% and 6.65% p.a.0.50% on all RD tenures provided by the bank.

Maturity Band Less than Rs.2 Crore (applicable for domestic, NRO and Capital Gains deposits)
7 to 14 days 4.75%
15 to 45 days 4.75%
46 to 60 days 5.50%
61 to 90 days 6.00%
91 to 120 days 6.10%
121 to 180 days 6.10%
181 to 270 days 6.25%
271 days to less than 1 year 6.30%
1 year 6.60%
1 year to 554 days 6.50%
555 days only 6.55%
556 days to 665 days 6.55%
666 days 6.65%
667 days to less than 3 years 6.50%
3 years & Above 6.50%

Interest rate applied on NRE Term Deposits

Maturity Period Less than Rs.2 crore
1 Year 6.60
>1 Year to 554 days 6.50
555 days only 6.55
556 days to 665 days 6.55
666 days only 6.65
667 days to less than 3 years 6.50
3 years and above 6.50

The public-lender offer you two recurring deposit schemes. They are:

  • Regular RD scheme
  • Flexible RD scheme.

A Regular RD scheme can be opened for a period that ranges between 12 months to 120 months. The minimum amount of deposit is Rs.50 per month in rural and semi-urban branches while for other branches, the minimum deposit amount is Rs.100. An RD account under the regular scheme can be opened by:

  • An individual in his/her own name
  • Individuals in their joint names
  • Minors represented by their parents or guardians
  • Clubs, associations, HUFs, government departments, trusts, firms etc.

Under the Flexible RD scheme, the minimum deposit amount is Rs.500 per month. The tenure of the RD is fixed as three years. It can be opened by:

  • Societies, partnerships, HUFs, govt. departments etc.
  • An Individuals in his/her own name
  • Individuals in their joint names
  • Minors represented by their parents or guardians

Corporation Bank Short Term Recurring Deposit Interest Rates

A short-term recurring deposit account can be opened with Corporation bank for a period of 12 months. The rate of interest offered on the tenure by the lender is 6.60% p.a.

Corporation Bank Medium and Long Term Recurring Deposit Interest Rates

Medium term recurring deposits are those which are opened for a period that ranges between 12 months and less than 36 months. Corporation bank offers interest in the range of 4.75% to 6.65% p.a. for medium-term RDs. Any RD account opened for a period that is more than 36 months falls under the category of long-term RDs. The rate of interest offered to such deposits is 6.50% p.a.

Corporation Bank Senior Citizen Recurring Deposit Interest Rates

Senior Citizens who open an RD account with Corporation bank are offered an additional interest of 0.50% per annum for all tenures. Senior citizens are offered interest in the range of 5% to 7.15% p.a.

More you need to know about Recurring Deposit

Corporation Bank RD Schemes

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