|MATURITY PERIOD||Rates (%)|
|180 days to 270 days||6.5|
|271 days to 364 days||7|
|365 days / 1 year||7|
|More than 1 yr to less than 2 years||7|
|2 years to less than 3 years||7|
|3 years to less than 5 years||7|
|5 years to less than 8 years||7|
|8 years to 10 years||7|
Get the Best Rates for a Dena Bank Recurring Deposit
Dena Bank offers recurring deposit schemes to help customers save regularly. This scheme works well for youngsters and salaried people to put away money for the future as well as inculcate the habit of saving. In these schemes, depositors can contribute a fixed amount on a monthly basis. A lump sum amount will be paid out at the end of the deposit tenure. Dena Bank offers two RD schemes. With the Dena Bank RD, you get the added benefit of life insurance cover at low premiums. The nominee or legal heir will receive a sum assured plus the RD with interest in case of death of the depositor.
- Recurring Deposit - To open a Dena Bank RD, you need to save a minimum of Rs. 50 per month. Higher deposits should be made in multiples of 5.
- Loan Linked Recurring Deposit - With this deposit, you will be entitled to avail of a loan up to three times the maturity amount. This is subject to a maximum of Rs. 75,000. The loan can be availed of upon the maturity of the RD to purchase consumer durables.
Dena Bank Short Term RD Interest Rates
The minimum term required for the recurring deposit scheme has not been mentioned. However, deposits of 6 months to 9 months attract an interest rate of Rs. 6.25% for less than 1 crore and deposits above 1 crore earn 6.25% per annum.
Dena Bank Medium and Long Term RD Interest Rates
Deposits of less than Rs. 1 crore that have a maturity period of 271 days to 364 days, earn interest of 6.50% per annum. Deposits made for Rs. 1 crore and above will continue to earn 6.50% interest per annum. Interest rates are subject to change frequently.
Dena Bank Senior Citizen Recurring Deposit Interest Rates
Senior Citizens are entitled to earn 0.50% per annum more on their deposits. This does not include NRI deposits.
More you need to know about Recurring Deposit
- Compare Recurring Deposit Interest Rate of Dena Bank with Other Banks and Institutions
- Check Features and Schemes of Dena Bank Recurring Deposit
Read More Articles On RD
News About Dena Bank Recurring Deposit Interest Rates
Fixed Deposit Rates Cut by Dena and Syndicate Bank
Even though deposits have increased after demonetization, lenders like Syndicate Bank and Dena Bank have reduced the interest rates of some of their fixed deposit schemes. Dena Bank is now offering 4% interest on fixed deposits worth Rs.1 crore to Rs.5 crore for 1 year. Syndicate bank has reduced the interest rate on retail term deposits of 1 year to 3 years by 25 bps to 50 bps. The bank is offering an interest rate of 6.8% for 1 year deposits, 6.5% for 2 year deposits and 6.5% for 3 years deposits.
24th December, 2016
Dena Bank Revised Recurring Deposit Rates
Dena Bank offers its customers recurring deposit schemes with attractive rates of interest. With effect from 04/07/2016, the interest rates have been changed. For deposits below Rs.1 crore, the interest rates range between 7% p.a. and 7.30% p.a. For deposits above Rs.1 crore but less than Rs.5 crore, the interest rates range between 6.35% p.a. and 6.75% p.a. For deposits that exceed Rs.5 crore, the interest rates range between 6.35% p.a. an 6.75% p.a. depending on the tenure chosen. The highest rate of interest offered is 7.30% p.a. offered on deposits of less than Rs.1 crore for a tenure of 365 days or 1 year. The lowest rate of interest earn on Dena Bank RDs is 6.25% on deposits of Rs.5 crore and above for a tenure of 365 days or 1 year.
1st July 2016