Get The Highest Interest Rates on Nainital Bank Recurring Deposit

Nainital Bank offers recurring deposit schemes at highly attractive terms and conditions. This method of investment ensures that customers can earn higher savings by making small periodic remittances. The deposit made per month starts from a minimum of Rs.100/- each month. The minimum recurring deposit tenure is 12 months. In case of delay in payment of installments, a nominal penalty is levied by the Bank. The interest is compounded every quarter on the minimum balance available in the account and this is exempted from Tax Deductible at Source (TDS). Nainital Bank also extends the facility of loan against Recurring Deposit and this depends on the duration of the deposit, deposit amount, etc. The facility of declaring a nominee is also available on this scheme.

Nainital Bank Short-Term Recurring Deposit Interest Rates

Nainital Bank Recurring Deposit can be maintained for a short deposit term ranging from a minimum tenure of 1 year to not more than 2 years at an interest rate of 7.90%. For a period ranging from 2 years and above but not more than 3 years, the interest rate offered on a recurring deposit worth less than Rs. 1 Crore is 7.75%.

Nainital Bank Medium and Long Term Recurring Deposit Interest Rates

Nainital Bank Recurring Deposits can also be opened for a medium term of 3 years to less than 5 years and for a long deposit term of 5 years to a maximum period not exceeding 10 years. For a deposit worth less than Rs. 1 crore over a period ranging from 3 years to less than 5 years, the interest rate offered on regular RD is 7.75%. For deposits worth less than Rs. 1 crore over a period ranging from 5 years to a maximum period of 10 years, the interest rate applicable is 7.50%.

Nainital Bank Senior Citizen RD Rates

Nainital Bank provides additional benefits to Senior citizens who open an RD account with the bank by giving 0.50% extra hike on the existing interest rates. Nainital Bank offers senior citizens an interest rate of 8.40% for a tenure of 1 year to less than 2 years. Senior citizens can avail 8.25% interest and for a period of more than 2 years to less than 3 years. For a recurring deposit scheme held for a period more than 3 years but not more than 5 years, the interest rate applicable is 8.25% and from 5 years to 10 years, an interest rate of 8.00% can be availed by senior citizens.

More you need to know about Recurring Deposit

• Compare Recurring Deposit Rates of Nainital Bank with Other Banks and Institutions
• Check Features and Schemes of Nainital Bank Recurring Deposit

Read More Articles On RD

• Which Bank Gives Highest Interest Rate On Recurring Deposit
• Recurring Deposit Interest Rates of All Banks
• Tax on Recurring Deposit