• Recurring Deposit
  • South Indian Bank RD Interest Rates
South Indian Bank RD Interest Rates

South Indian Bank RD Interest Rates

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South Indian Bank RD Interest Rates Oct 2024

TenureNormal Citizen RD RateSenior Citizen RD Rate
3 Months to 6 Months4.50%5.00%
6 Months to 9 Months5.00%5.50%
9 Months to 1 Year5.00%5.50%
1 Year to 2 Years6.50%7.00%
2 Years to 3 Years6.50%7.00%
3 Years to 5 Years6.50%7.00%
5 Years to 10 Years6.00%6.50%

Note: All interest rates shown above are as on 1st November 2023

South Indian Bank RD Scheme Details

Tenure
3 Months to 10 Years
Public Interest Rates
4.50% to 6.50%
Senior Citizen Interest Rates
5.00% to 7.00%
Minimum Deposit Amount
Rs. 500
Premature Withdrawal
0.5% on Deposit Amount
Highest Rates for Public
6.50%
Highest Rates for Senior Citizen
7.00%

South Indian Bank Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 6.50%For 5 years with interest of 6.00%
₹ 50,0001,51,6222,53,756
₹ 1 lakh3,03,2445,07,512
₹ 2 lakh6,06,48810,15,025
₹ 5 lakh15,16,22125,37,562
₹ 10 lakh30,32,44250,75,125

Compare South Indian Bank vs Punjab National Bank Recurring Deposit

vs
Punjab National Bank
South Indian Bank
South Indian Bank
Maturity Amount3,03,2443,02,621
Total Investment Amount3,00,0003,00,000
Total Interest Gained3,2442,621

Compare RD Interest Rates of Other Banks

Bank NameRD Interest Rates
bank-0
Punjab National Bank
4.40% to 6.50%
bank-1
City Union Bank
5.75% to 6.50%
bank-2
BOI Bank
4.50% to 6.50%
bank-3
Canara Bank
5.25% to 6.90%
bank-4
Indian Bank
3.50% to 6.70%
bank-5
BOB Bank
4.50% to 7.05%
bank-6
Central Bank of India
4.50% to 6.75%
bank-7
Karur Vysya Bank
6.00% to 7.00%
bank-8
Union Bank of India
4.30% to 6.70%
bank-9
Tamilnad Mercantile Bank
5.75% to 7.00%
bank-10
Karnataka Bank
5.25% to 7.00%
bank-11
Dhanlaxmi Bank
6.50% to 6.75%
bank-12
Federal Bank
5.00% to 7.30%
bank-13
Bank of Maharashtra
4.50% to 6.00%
bank-14
Indian Overseas Bank
4.50% to 6.80%
bank-15
UCO Bank
4.50% to 6.50%
bank-16
RBL Bank
4.75% to 7.50%
bank-17
State Bank of India
4.50% to 7.00%
bank-18
IDBI Bank
4.50% to 6.80%
bank-19
Axis Bank
4.75% to 7.10%
bank-20
HDFC Bank
4.50% to 7.10%
bank-21
ICICI Bank
4.75% to 7.00%
bank-22
Indusind Bank
4.75% to 7.50%
bank-23
Kotak Mahindra Bank
4.00% to 7.10%
bank-24
Yes Bank
5.00% to 7.75%
bank-25
Bandhan Bank
4.50% to 7.25%
bank-26
IDFC First Bank
5.00% to 7.50%
bank-27
Equitas Small Finance Bank
7.25% to 8.20%
bank-28
Capital Small Finance Bank
4.75% to 7.15%
bank-29
Ujjivan Small Finance Bank
4.75% to 7.50%
bank-30
Fincare Small Finance Bank
5.75% to 8.25%
bank-31
ESAF Small Finance Bank
5.25% to 8.50%
bank-32
North East Small Finance Bank
4.00% to 7.50%
bank-33
Suryoday Small Finance Bank
5.00% to 8.50%
bank-34
Utkarsh Small Finance Bank
6.50% to 8.00%
bank-35
Jana Small Finance Bank
4.00% to 8.50%
bank-36
DBS Bank
3.00% to 7.50%
bank-37
Post Office
6.90% to 7.50%

Frequently Asked Questions

What is the current interest rate of RD in South Indian Bank?

The current highest South Indian Bank RD rates for general citizen range from 4.50% to 6.50% and for senior citizen it ranges from 5.00% to 7.00% today 2024-10-07

How to open rd account in South Indian Bank?

South Indian Bank RD account can be opened with a minimum deposit of Rs. 500 with tenure ranging 3 Months to 10 Years. South Indian Bank recurring deposit account can be opened online or by visiting South Indian Bank branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.

How to close rd in South Indian Bank?

You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in South Indian Bank RD is 0.5% on Deposit Amount.

How to calculate maturity and interest in South Indian Bank recurring deposit ?

The maturity amount in South Indian Bank recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the South Indian Bank for 5 years and planed to invest INR 50,000.The current South Indian Bank RD interest rate for 5 year is 6.00%.So using the above formula the maturity amount will be - Rs. 35,03,178.

What is South Indian Bank RD interest rates for 1 year in 2024 ?

The South Indian Bank recurring deposit for 12 months or 1 year is 7.00% for senior citizen and 6.50% for others.

Calculate South Indian Bank Returns

36
3.2 %

1,00,000

Total Investment

0

Wealth Gained

0

Maturity Amount

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