Indian Bank Recurring Deposit Interest Rates 2025

A recurring deposit is a great method to save money in small installments. It works great for salaried workers who can contribute a small amount towards savings rather than a big lump sum.

Fixed deposits can be used for lump sum investments. But RDs help inculcate a habit of saving money regularly. With a recurring deposit, you can avail of loan facilities and nomination facilities. You will also earn interest on your deposit.

Why Choose Indian Bank's Variable Recurring Deposit (RD)?

This scheme caters to those who can save a little and to those who want to save a big amount. With this recurring deposit, a customer can open an account with just Rs. 25.

The maximum initial deposit is limited to Rs. 1 lakh. So, customers can make an initial deposit of any amount below Rs. 1 lakh in multiples of Rs. 25. Subsequently, every monthly instalment can be any amount the customer wishes to deposit subject to a maximum of Rs. 10 lakhs.

Each instalment can vary, there is no fixed monthly deposit amount. This deposit is great for people who would like to save as much as they can, when they can.

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The Benefits of the Indian Bank Variable Recurring Deposit (RD)

Under this scheme, customers can avail of a host of benefits:

1. Interest - Interest rates are attractive and compounded on a quarterly basis.
2. Variable deposits -  Customers can deposit as much as they like in multiples of Rs. 25. This feature makes this deposit extremely appealing.
3. Tenures -  Customers can choose to save for 1 year up to a period of 10 years.
4. Nomination - Nomination facilities are available for the deposit holder to select a nominee. Upon the unfortunate death of the deposit holder, the nominee will receive the money.
5. Loan -  Against this deposit, Indian Bank will extend loan facilities.
6. Delayed payments -  In case your monthly instalment is delayed, Indian Bank does not levy any penalties.

RD Article Pages

1. Recurring Deposit Vs. Chit Fund
2. Miss to Pay the Recurring Deposit Due
3. Difference Between Recurring Deposit and SIP
4. Open RD Account through HDFC NetBanking
5. RD Account in SBI
6. Advantages of Recurring Deposit
7. Flexi RD
8. SBI Flexi RD Schemes
9. Monthly Recurring Deposit
10. Co-operative Bank Recurring Deposit
11. City Union Bank Recurring Deposit
12. Indian Bank Recurring Deposit
13. Union Bank Recurring Deposit
14. UCO Bank Recurring Deposit

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FAQs on Indian Bank Swarna Nidhi RD

• What is the minimum amount required to invest in the Indian Bank Swarna Nidhi RD?

  The minimum amount required to invest in the Indian Bank Swarna Nidhi RD is Rs.100.

• What is the maximum amount that can be invested in the Indian Bank Swarna Nidhi RD?

  The maximum amount that can be invested in the Indian Bank Swarna Nidhi RD is Rs.1,00,000. 

• What is the maximum tenure for the Indian Bank Swarna Nidhi RD?

  The maximum tenure for the Indian Bank Swarna Nidhi RD is 36 months. 

• How much is the minimum period for Indian Bank Swarna Nidhi RD?

  The minimum period for the Indian Bank Swarna Nidhi RD is 36 months.

• Can I avail myself of a loan facility against Indian Bank Swarna Nidhi RD?

  Yes, you can avail yourself of a loan facility against Indian Bank Swarna Nidhi RD. 

• How much is the initial deposit amount for Indian Bank Swarna Nidhi RD?

  The initial deposit amount for Indian Bank Swarna Nidhi RD is Rs.500.

• Will I be charged a penalty for premature closure of the Indian Bank Swarna Nidhi RD?

  No, you will not be charged a penalty for premature closure of the Indian Bank Swarna Nidhi RD. 

• Can I avail myself of a nomination facility against Indian Bank Swarna Nidhi RD?

  Yes, you can avail yourself of a nomination facility against Indian Bank Swarna Nidhi RD. 

• When will the interest earned on the RD be credited to my account?

  The interest earned on the RD will be credited on a quarterly basis in your account. 

• Do senior citizens get any interest benefit on investing in Indian Bank Swarna Nidhi RD?

  Yes, senior citizens do get an additional rate of interest of 0.50% per annum on investing in Indian Bank Swarna Nidhi RD.

• Will I be charged a penalty for late deposit of the RD installment?

  No, you will not be charged a penalty for late deposit of the RD installment. 

• Can I prematurely withdraw my Indian Bank Swarna Nidhi RD?

  Yes, you are allowed to prematurely withdraw your Indian Bank Swarna Nidhi RD. 

• Can I open the Union Monthly Plus RD account for a minor?

  Yes, you can open the Union Monthly Plus RD account for a minor under a parent or guardian.

• Will TDS be deducted on availing the Indian Bank Swarna Nidhi RD scheme?

  Yes, TDS will be deducted according to the applicable guidelines on availing the Indian Bank Swarna Nidhi RD scheme.