North East Small Finance Bank 2026 RD Rates Overview
North East Small Finance Bank, a subsidiary of RGVN (North East) Micro Finance Limited, was established to provide credit to small business units and promote savings. Among its wide array of financial products, the bank offers Recurring Deposits (RDs). This page provides a comprehensive overview of the North East Small Finance Bank's RD interest rates for 2026, which currently start from 4.50%, along with details on its key features, benefits, and the necessary documentation for opening an account.
The North East Small Finance Bank offers a wide array of products in terms of accounts, loans, cards, and deposits. One of the products offered by this bank is Recurring Deposits (RD). The RD offered by small finance banks offers a starting interest rate of 4.50%.
What is a Recurring Deposit?
Recurring Deposit is a unique term deposit for people with regular incomes. A fixed amount is deposited every month for earning interest. In RD, you can build your corpus at your own pace, unlike Fixed Deposit where a lump sum amount must be deposited altogether. At the end of the term, the investor receives the total principal amount invested plus the interest earned.
Recurring Deposit (RD) Interest Rates
Tenure | Rates up to Rs.2 crore | Senior Citizen up to Rs.2 crore |
6 to 9 Months | 4.50% | 4.75% |
9 to 12 Months | 6.25% | 6.50% |
1 to 2 Years | 7.25% | 7.25% |
2 to 3 Years | 7.50% | 7.50% |
3 to 4 Years | 7.00% | 7.25% |
4 to 5 Years | 7.00% | 7.25% |
5 to 10 Years | 6.50% | 6.75% |
Note: These interest rates are effective from 17 September 2025 and are subject to change.
Features and Benefits of North East Small Finance Bank RD
Given below are the features and benefits of North East Small Finance Bank RD:
- Flexible Investments: As no upper limit on the total amount to be invested, you have the opportunity to maximize your wealth without constraints.
- Benefits for Senior Citizens: Individuals above the age of 60 can enjoy an additional interest of 0.25% on their investment.
- Transparency: Investors get immediate updates with automated SMS alerts which enable the users to confirm every deposit and interest credit in real time.
- Overdraft Facility: In case of any financial emergency, investors can get immediate access to their funds by choosing an overdraft against the RD balance without breaking the deposit.
- Access to Low-Interest Loans: You can utilize your accumulated savings for securing an urgent loan without disrupting your investment.
- Doorstep Banking: Enjoy hassle free banking services from the comfort of your home.
- Flexible Tenures: You can choose a deposit term, from as low as 7 days to a maximum tenure of 10 years, according to your financial goals.
- Digital Management: You can monitor your growth, get updated instructions, and manage your account through a user-friendly, modern interface.
Documents Required to Apply for North East Small Finance Bank RD
The following documents are needed to apply for a recurring deposit:
- Identity Proof: Aadhaar Card, PAN Card, or Passport is needed to complete your KYC process.
- Address Proof: Aadhaar Card, PAN Card, utility bill, etc.
- Multiple copies of recently clicked, passport-sized coloured photographs are needed for the traditional offline application route.
- A duly filled application form must be submitted.
How to Apply for a North East Small Finance Bank RD
You can apply for a Recurring Deposit with North East Small Finance Bank by visiting the branch or through the NESFB mobile application.
Online application
- Step 1: Download the NESFB mobile banking app and log in.
- Step 2: Register using your Debit Card or internet banking details.
- Step 3: Go to the “Term Deposits” or “Open RD” section.
- Step 4: Enter the minimum amount you want to invest and choose the tenure of your investment.
- Step 5: For automatic deductions, you may link your existing savings account.
Offline application
- Step 1: Visit the nearest branch.
- Step 2: Fill out the account opening form specific for term deposits.
- Step 3: Submit the required KYC documents.
- Step 4: Submit the duly filled form along with your initial deposit.
FAQs on North East Small Finance Bank RD Rates
- What is the difference between a fixed deposit and a recurring deposit?
In a fixed deposit, the lump sum amount is invested in one go. However, in recurring deposits, the amount is invested gradually at regular intervals.
- Is premature withdrawal of recurring deposit allowed at North East Small Finance Bank?
Yes, premature withdrawal of recurring deposits is allowed at North East Small Finance Bank.
- Do senior citizens get any additional benefits on North East Small Finance Bank recurring deposits?
Yes, the senior citizens get an additional interest rate benefit of 0.50% on North East Small Finance Bank recurring deposit.
- Can I apply for the North East Small Finance Bank recurring deposit online?
No, the North East Small Finance Bank does not provide the facility to apply for recurring deposit online.
- Can I give standing instruction to North East Small Finance Bank for recurring deposit installments?
Yes, you can give a standing instruction to North East Small Finance Bank for recurring deposit installments.
- Can avail a loan against my recurring deposit at North East Bank?
Yes, you can avail yourself of a loan against the recurring deposit at North East Bank.
- Does North East Small Finance Bank provide overdraft facility?
Yes, North East Small Finance Bank provides its customers with overdraft facilities.
- What is the maximum tenure for a North East Small Finance Bank RD?
The maximum tenure for a recurring deposit at North East Small Finance Bank is 10 years (120 months), allowing for long-term disciplined savings.
- Is TDS applicable for the interest earned from a North East Small Finance Bank RD?
Yes, Tax Deducted at Source (TDS) is applicable if the total interest earned across all your deposits at the bank exceeds Rs.40,000 in a financial year (Rs.50,000 for senior citizens). If your total annual income is below the taxable limit, you can submit Form 15G or 15H to prevent the bank from deducting this tax.
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