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:
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.
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