|Maturity Period||Interest Rate (%)||Senior Citizen (%)|
|270 days to less than 1 Yr||6.25||6.25|
|More than 1 Yr to less than 2 Yrs||6.5||7|
|More than 2 Yrs to less than 3 Yrs||6.5||7|
|3 years to 5 Yrs||6.5||7|
|Above 5 Yrs||6.25||6.75|
Get The Best Rates for a Vijaya Bank Recurring Deposit
Vijaya Bank offers a regular recurring deposit scheme at competitive interest rates. Customers can make a small deposit every month and get maximum returns on their investments with a Vijaya recurring deposit plan. Customers can opt for a deposit tenure between 6 months to 120 months, with tenure completed in multiples of 3 months. The core installment made to this scheme can be a minimum of just Rs. 10 or multiples thereof and remittances can be made in variances of the same. The maximum amount that can be deposited in the RD account is equal to 10 times the core monthly installment made by the depositor.
Vijaya Bank - Short Term Recurring Deposit Interest Rates
Customers can open Vijaya recurring deposits with smaller tenures starting at 181 days and going up to less than a year. The interest rate offered for a recurring deposit with this short-term tenure is 7.00% and with tenures of more than a year up to less than 3 years, an interest rate of 7.25% is applicable.
Vijaya Bank - Medium and Long Term Recurring Deposit Interest Rates
As medium and long-term recurring deposits, Vijaya Bank offers recurring deposit accounts with tenures ranging from 3 years to 5 years. The interest rate charged for deposit tenures ranging from three years to five years is 7.25% and for long term deposit tenures above 5 years, the interest rate applicable is 7.00%.
Vijaya Bank Other Recurring Deposit Schemes
Vijaya Bank offers a unique recurring deposit scheme for assisting parents to meet the educational needs of their children in the future, called the V Genuth Unnathi Recurring Deposits Bank Account. The deposit tenure can be anywhere between 36 months to 120 months and the monthly installments are to be made in multiples of Rs. 50/-. Children who are 18 years old and above can open this account. The minimum deposit tenure that can be chosen by the depositor is 36 months and the maximum deposit tenure is 120 months. If the depositor remits all his/her installments without default, then he/she is eligible for an additional 0.25% hike in interest rate. This will be reflected at the end of the deposit tenure.
Vijaya Bank - Senior Citizen Recurring Deposit Interest Rates
Senior citizens can enjoy a higher interest rate on recurring deposits maintained in Vijaya Bank. The additional interest rate for Senior Citizens is 0.50% per annum and this is applicable only for recurring deposits which are worth less than Rs. 1 crore for a period ranging from 1 year to 5 years. This advantage is provided by Vijaya Bank to all Sr. Citizen Customers as well as ex- staff of the Bank who are senior citizens.
The interest rate offered on senior citizen recurring deposits with 9 months to less than 12-month tenure is 7.00% and with tenures ranging for 1 year the interest applicable is 8.00%. For a period of more than 1 year to a maximum tenure of 5 years, the rate of interest applicable on the RD is 7.75% and for the tenure of above 5 Years, the interest rate is 7.50.
More you need to know about Recurring Deposit
- Compare Interest on Recurring Deposit of Vijaya Bank with Other Banks and Institutions
- Check Features and Schemes of Vijaya Bank Recurring Deposit
Read More Articles On RD
News About Vijaya Bank Recurring Deposit
Vijaya Bank Revises Recurring Deposit Interest Rates
Vijaya Bank Recurring Deposit interest rates were revised for select tenures and schemes recently. Vijaya Bank offers 8 tenure ranges for recurring deposit customers and the scheme is offered for general customers and senior citizens. While the recurring deposit interest rates for general customers remained unchanged, the interest rates for senior citizen recurring deposit scheme saw some major changes. Currently, general customers receive an interest rate of 7.25% per annum for tenures ranging from 181 days to less than 1 year and 7.75 for a tenure of 1 year. For all other tenure options till five years, the interest rate remains the same 7.5% per annum.
However, for senior citizen recurring deposit schemes, the interest rate for periods ranging from 181 days to less than a year has been changed to 7.25% from 7.50% per annum. For recurring deposit schemes ranging from more than 1 year to above 5 years, the interest rate has been revised to 7.75% per annum from 8.00% per annum. For a tenure of 1 year, an interest rate of 8.25% is being offered for Vijaya Bank Senior Citizen Recurring Deposit customers.
2nd March 2016