In Recurring Deposit scheme, instead of a one-time lump-sum investment, you can make a fixed monthly investment. On maturity, the Bank pays you the invested amount along with interest earned.

Fixed monthly installment of Rs.100/- and above can be made for periods ranging from 1 year to 10 years.

Features :

The most preferred investment scheme by the salaried / fixed monthly income group.
It automatically promotes the habit of compulsory savings. cs.

Overdraft facility up to 90 % of the outstanding balance.

High yield, since you get the applicable rate of interest for the whole period of deposit, even for the last monthly installment made by you.

Facility to remit installment through internet banking or through Standing Instruction.

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.

For Senior Citizen
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%.

For more information you may Visit the Nearest branch of the South Indian Bank