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

RD calculator: At a time when return on financial institution deposits and in style small saving schemes usually are not been capable of beat common inflation charge in India, some small finance banks (SFBs) are providing increased curiosity on time period deposits, which can appeal to traders who do not need to take any danger on their investments. North East Small Finance Bank is one such SFB. It is providing recurring deposit rate of interest or RD rate of interest of seven.50 per cent on deposits for the tenure of two years. For senior residents, it’s providing an extra 50 bps extra RD rate of interest meaning senior citizen RD rate of interest for 2 years tenure at North East Small Finance Bank is 8 per cent.

As per the knowledge accessible on the official official web site of North East Small Finance Bank, a financial institution depositor can open recurring deposit account on this SFB for minimal 3 months interval. RD rate of interest provided right here for 3 months tenure is 4.25 per cent whereas for six months, the recurring deposit rate of interest provided is 4.50 per cent. For 9 months and one 12 months tenor, RD rate of interest provided by North East Small Finance Bank is 5.50 per cent. For 2 years tenure, North East Small Finance Bank RD charge provided is 7.50 per cent.

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Source: North East Small Finance Bank

Up to eight% RD rate of interest for senior residents

Like every other financial institution, North East Small Finance Bank is providing 50 bps further RD rate of interest to senior residents. A senior citizen is obtainable 4.75 return on one’s recdurring deposit for 3 month tenure whereas on 6 months tenure, RD rate of interest provided to senior residents is 5.0 per cent. On 9 months and one 12 months tenure, recurring deposit rate of interest provided to senior residents is 6 per cent. For a senior citizen’s RD account, North East Small Finance Bank offeres 8 per cent RD rate of interest for two years tenure.

One can open RD account at North East Small Finance Bank for 3 months, 6 months, 9 months, one 12 months, two years, three years, 4 years, 5 years and greater than 5 years to 10 years. The SFB is providing highest RD rate of interest on RD account for 2 years tenure.

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