Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Money / Personal Finance/  This SFB is offering 7.5% RD interest rate on 2-year recurring deposits
BackBack

This SFB is offering 7.5% RD interest rate on 2-year recurring deposits

One can open RD account at this small finance bank for 3 months, 6 months, 9 months, one year, two years, three years, 4 years, 5 years and more than 5 years to 10 years

This SFB is offering 8 per cent recurring deposit interest rate for two years tenure, if the RD account belongs to a senior citizen.Premium
This SFB is offering 8 per cent recurring deposit interest rate for two years tenure, if the RD account belongs to a senior citizen.

RD calculator: At a time when return on bank deposits and popular small saving schemes are not been able to beat average inflation rate in India, some small finance banks (SFBs) are offering higher interest on term deposits, which may attract investors who don't want to take any risk on their investments. North East Small Finance Bank is one such SFB. It is offering recurring deposit interest rate or RD interest rate of 7.50 per cent on deposits for the tenure of two years. For senior citizens, it is offering an additional 50 bps more RD interest rate that means senior citizen RD interest rate for two years tenure at North East Small Finance Bank is 8 per cent.

As per the information available on the official official website of North East Small Finance Bank, a bank depositor can open recurring deposit account in this SFB for minimum 3 months period. RD interest rate offered here for 3 months tenure is 4.25 per cent whereas for 6 months, the recurring deposit interest rate offered is 4.50 per cent. For 9 months and one year tenor, RD interest rate offered by North East Small Finance Bank is 5.50 per cent. For 2 years tenure, North East Small Finance Bank RD rate offered is 7.50 per cent.

See full list below:

Source: North East Small Finance Bank
View Full Image
Source: North East Small Finance Bank

Up to 8% RD interest rate for senior citizens

Like any other bank, North East Small Finance Bank is offering 50 bps additional RD interest rate to senior citizens. A senior citizen is offered 4.75 return on one's recdurring deposit for 3 month tenure whereas on 6 months tenure, RD interest rate offered to senior citizens is 5.0 per cent. On 9 months and one year tenure, recurring deposit interest rate offered to senior citizens is 6 per cent. For a senior citizen's RD account, North East Small Finance Bank offeres 8 per cent RD interest rate for 2 years tenure.

One can open RD account at North East Small Finance Bank for 3 months, 6 months, 9 months, one year, two years, three years, 4 years, 5 years and more than 5 years to 10 years. The SFB is offering highest RD interest rate on RD account for two years tenure.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 11 Mar 2022, 07:33 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App