This article offers a brief summary of the key aspects of the South Indian Bank’s Recurring Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
South Indian Bank – Recurring Deposit Features:
- A Recurring Deposit (RD) can be initiated with a monthly installment in increments of Rs. 1, with a minimum installment of Rs. 100. The duration can start from a minimum of 6 months and be extended in multiples of 3 months, up to a maximum of 120 months (10 years). For NRE RDs, the minimum tenure remains 12 months.
- An overdraft facility of up to 90% of the outstanding balance is available. You can conveniently remit installments through internet banking or by setting up a Standing Instruction.
- However, if an RD defaults for more than 6 months, further remittances will not be permitted.
How to invest?
Click here to invest in the South Indian Bank’s Recurring Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.