|Tenure||Interest Rate p.a.(%)||Senior Citizen Rates p.a.(%)|
|3 years - less than 5years||6.5||7|
|5 years - 10years||6.5||7|
Get the Highest Interest Rates on IndusInd Bank Recurring Deposit
IndusInd Bank offers three recurring deposit schemes namely the Regular Recurring Deposit, Flexi Recurring Deposit and the Young Saver Deposit. Through its recurring deposit schemes, the bank helps its depositors cultivate a habit of saving money by allowing them to invest money in their recurring deposit account every month for a fixed tenure and earn interest on this investment.
In a Regular Recurring Deposit account, people can deposit a minimum of Rs.500 every month for minimum 1 year and maximum 10 years. In a Flexi Recurring Deposit account, people can invest a minimum of Rs.1000, which can vary every month for minimum 1 year and maximum 10 years. Young Saver Deposit scheme is to encourage children to save money. Guardians of the child can open this account and operate it on behalf of him or her by connecting the Savings Bank Account to the Flexi Recurring Deposit account. The minimum deposit that can be made in a Young Saver account is Rs.11 for minimum 6 months.
IndusInd Bank Short - Term Recurring Deposit Interest Rates
IndusInd Bank gives its customers the option of opening a short - term recurring deposit account. Depositors can investment money with the bank for 1 year to 2 years 9 months with the Flexi Recurring Deposit and the Regular Recurring Deposit schemes and for 6 months to 2 years 9 months with the Young Saver Deposit scheme.
For a short - term recurring deposit, the bank offers an interest rate which ranges between 7.75 percent and 7.50 percent per annum. The interest rate for a six month deposit is 7.00 percent per annum.
IndusInd Bank Medium and Long Term Recurring Deposit Interest Rates
Depositors of IndusInd Bank also have the option of opening a medium and long term recurring deposit account. The medium term recurring deposit account for all the three schemes can be opened for a period between 3 years and less than 5 years while a long term recurring deposit account can be opened for a period between 5 years and up to 10 years.
For a medium - term recurring deposit, the bank offers an interest rate of 7.50 percent per annum and for a long – term recurring deposit, the bank offers an interest rate of 7.25 percent per annum.
IndusInd Bank Senior Citizen Recurring Deposit Interest Rates
IndusInd Bank offers attractive rates of interest on recurring deposits to senior citizens when they open a Flexi rd account or a Regular rd account with the bank. Senior Citizens can earn an interest rate ranging between 8.25 percent and 8.00 percent per annum for short- term deposits. They can earn an interest rate of 8.00 percent per annum for medium- term deposits and an interest rate of 7.75 percent per annum on long- term deposits.
More you need to know about Recurring Deposit
- Compare Recurring Deposit Interest Rates of IndusInd Bank with Other Banks and Institutions
- Check Features and Schemes of Indusind Bank Recurring Deposit