Question 1

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

Accepted Answer

As of today, November 29, 2024, the current South Indian Bank RD rates range from 4.50% to 6.50%  for general citizens and from 5.00% to 7.00% for senior citizens.

Question 2

How to open rd account in South Indian Bank?

Accepted Answer

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.

Question 3

How to close rd in South Indian Bank?

Accepted Answer

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.

Question 4

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

Accepted Answer

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.

Question 5

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

Accepted Answer

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

Question 6

What are the limits on the minimum and maximum deposits?

Accepted Answer

The South Indian Bank RD account can be opened with as low as INR Rs. 500 per month. Also, there is no limit on the maximum amount for investment in a South Indian Bank RD.

Question 7

What is the current highest South Indian Bank rd interest rates?

Accepted Answer

The current highest South Indian Bank rd rate is 6.50% p.a. for normal citizen and 7.00% p.a. for senior citizens in India.

Investment Amount	For 3 years with interest of 6.50%	For 5 years with interest of 6.00%
₹ 50,000	₹ 1,51,622	₹ 2,53,756
₹ 1 lakh	₹ 3,03,244	₹ 5,07,512
₹ 2 lakh	₹ 6,06,488	₹ 10,15,025
₹ 5 lakh	₹ 15,16,221	₹ 25,37,562
₹ 10 lakh	₹ 30,32,442	₹ 50,75,125


Maturity Amount	₹ 3,03,244	₹ 3,02,621
Total Investment Amount	₹ 3,00,000	₹ 3,00,000
Total Interest Gained	₹3,244	₹ 2,621

Bank Name	RD Interest Rates
Punjab National Bank	4.40% to 6.50%
City Union Bank	5.75% to 6.50%
BOI Bank	4.50% to 6.50%
Canara Bank	5.25% to 6.90%
Indian Bank	3.50% to 6.70%
BOB Bank	4.50% to 7.05%
Central Bank of India	4.50% to 6.75%
Karur Vysya Bank	6.00% to 7.00%
Union Bank of India	4.30% to 6.70%
Tamilnad Mercantile Bank	5.75% to 7.00%
Karnataka Bank	5.25% to 7.00%
Dhanlaxmi Bank	6.50% to 6.75%
Federal Bank	5.00% to 7.30%
Bank of Maharashtra	4.50% to 6.00%
Indian Overseas Bank	4.50% to 6.80%
UCO Bank	4.50% to 6.50%
RBL Bank	4.75% to 7.50%
State Bank of India	4.50% to 7.00%
IDBI Bank	4.50% to 6.80%
Axis Bank	4.75% to 7.10%
HDFC Bank	4.50% to 7.10%
ICICI Bank	4.75% to 7.00%
Indusind Bank	4.75% to 7.50%
Kotak Mahindra Bank	4.00% to 7.10%
Yes Bank	5.00% to 7.75%
Bandhan Bank	4.50% to 7.25%
IDFC First Bank	5.00% to 7.50%
Equitas Small Finance Bank	7.25% to 8.20%
Capital Small Finance Bank	4.75% to 7.15%
Ujjivan Small Finance Bank	4.75% to 7.50%
Fincare Small Finance Bank	5.75% to 8.25%
ESAF Small Finance Bank	5.25% to 8.50%
North East Small Finance Bank	4.00% to 7.50%
Suryoday Small Finance Bank	5.00% to 8.50%
Utkarsh Small Finance Bank	6.50% to 8.00%
Jana Small Finance Bank	4.00% to 8.50%
DBS Bank	3.00% to 7.50%
Post Office	6.90% to 7.50%

South Indian Bank RD Interest Rates