|Maturity Period||Regular rates (%)||Senior Citizen (%)||NRE (%)|
|46 days to less than 1 year||6.5||7||6.5|
|1 year to up to and incl.10 years||7||7.5||7|
Get the Best Rates for a South Indian Bank Recurring Deposit
South Indian Bank offers a regular recurring deposit scheme, where customers can deposit small amounts every month and save significantly. The interest rate offered on a South Indian Bank recurring deposit scheme is quite attractive and is paid at the time of maturity to the deposit holder. Monthly payments can be done by customers, with the minimum deposit amount being Rs. 100. Recurring deposit tenures offered by South Indian Bank ranges from 1 year to up to 10 years. This scheme mainly targets the salaried income group and also offers an overdraft facility to up to 90% of the outstanding balance. Customers can make payments towards their South Indian Bank recurring deposit accounts through internet banking or via standing instructions. South Indian Bank also provides the recurring deposit facility to Non-resident Indians at competitive interest rates.
South Indian Bank - Short Term RD Interest Rates
South Indian Bank offers shorter recurring deposit tenures ranging below 1 year at an interest of 7.00%, for deposit amounts below Rs. 100 lakhs. These interest rates are also applicable on South Indian Bank NRO deposit accounts.
South Indian Bank - Medium and Long Term RD Interest Rates
The medium and long-term deposit time periods available for a South Indian Bank recurring deposit account ranges from 1 year to 3 years and 3 years up to 10 years. Customers can open a mid-range recurring deposit with tenures between 1 year and 3 years. The interest rate offered for a deposit account with a tenure of 1-year to 3 years is 7.50%. For longer tenures between 3 years and 10 years, the interest rate offered by South Indian Bank is 7.30%. These interest rates are also applicable on South Indian Bank NRO deposit accounts.
South Indian Bank - Senior Citizen Recurring Deposit Interest Rates
South Indian Bank offers recurring deposit schemes to senior citizens at an additional interest rate of 0.50% over the regular deposit rates. Recurring deposit accounts with tenures ranging 1 year to 3 years carry an interest rate of 8.00%. The interest rate given on a recurring deposit account with a tenure between 3 years and up to 10 years, is 7.80%.
South Indian Bank - NRE Recurring Deposit Interest Rates
South Indian Bank offers recurring deposits to Non-resident Indians with tenures ranging from 1 year to up to 10 years. For a 1-year tenure, the interest rate offered is 7.50%. An interest rate of 7.50% is given for a deposit with any tenure between 1 year and up to 3 years and an interest rate of 7.30% applies for tenures of above 3 years and up to 10 years. These interest rates are applicable on deposit amounts of below Rs. 100 lakhs.
More you need to know about Recurring Deposit
- Compare Recurring Deposit Rates of South Indian Bank with Other Banks and Institutions
- Check Features and Schemes of South Indian Bank Recurring Deposit