Does Suryoday Bank offer 7% interest rates in RD?

Yes, Suryoday Small Finance Bank offers up to 7.25% p.a. if you invest for a tenure of 3 Years to less than 5 years.

What is the maximum interest rate you can get from Suryoday Bank RD?

Regular citizens can receive a maximum interest of 8.60% p.a. on an investment tenure of 5 years under the regular RD schemes. Additionally, senior citizens will receive 9.10% p.a. interest on the same tenure.

What is the minimum amount to invest in Suryoday Bank RD?

Suryoday Bank allows individuals to invest in RDs with just ₹100.

Is Suryoday Bank regulated by the RBI?

Yes, Suryoday Bank is regulated by the Reserve Bank of India (RBI). It is one of the 10 companies and the only one from Maharashtra to obtain a Small Finance Bank license from the RBI.

Can I withdraw my RD before its maturity?

Yes, you can take advantage of the premature withdrawal from Suryoday Bank's recurring deposit. In this case, the bank will charge a penalty of 1% p.a. on the interest rate for the deposit period.

Suryoday Bank Recurring Deposit Rates - Grow Your Savings

Name: Suryoday Bank Recurring Deposit Rates
Brand: Recurring Deposits
Rating: 4.7 (13142 reviews)

Suryoday Small Finance Bank Recurring Deposits (RDs) offer a simple and reliable way to build savings through regular monthly investments while earning competitive interest rates. With different rates for general and senior citizens, flexible tenures, and low minimum investment requirements, Suryoday Bank RDs are suitable for both short-term and long-term financial goals. Continue reading to learn about the latest Suryoday Small Finance Bank RD interest rates.

Interest Rates of Suryoday Small Finance Bank RD

Suryoday Small Finance Bank offers different interest rates for normal citizens and senior citizens. The table below showcases the interest rates offered by Suryoday Bank RD with respective tenures:

Period	Interest Rate (Per Annum)	Senior Citizen Rate# (Per Annum)
6 Months	5.00%	5.20%
9 Months	5.50%	5.70%
12 Months	7.25%	7.45%
15 Months	7.25%	7.45%
18 Months	7.60%	7.95%
21 Months	7.25%	7.45%
24 Months	7.25%	7.45%
27 Months	7.25%	7.45%
30 Months	7.25%	7.45%
33 Months	7.25%	7.45%
36 Months	7.25%	7.45%
Above 3 Years to less than 5 Years	6.75%	6.95%
5 Years	7.90%Highest	8.10%Highest
Above 5 Years to 10 Years	7.25%	7.45%
11 years - 25 years*	6.36%	6.36%

Types of Recurring Deposits Available Offered by Suryoday Bank

Suryoday Bank Recurring Deposits are categorised into three different types mentioned below:

Regular Recurring Deposits: Suryoday Small Finance Bank offers regular recurring deposits to people under 60 years. You can invest in this type of RD for six months up to ten years.
Senior Citizen Recurring Deposits: Suryoday Bank offers special RDs with higher rates than regular RDs to citizens above 60 years of age.
Flexi Recurring Deposits: Flexi recurring deposits are also offered by Suryoday Bank, where you can invest a flexible amount at any time of the month.

Benefits of Suryoday Bank Recurring Deposit

Here are the key benefits of Suryoday Bank Recurring Deposit that you can avail:

Competitive Interest Rates: Suryoday Bank offers attractive interest rates ranging from 5.00% to 8.10% on recurring deposits.
Disciplined Savings: By investing a fixed amount every month, you develop a healthy savings habit that steadily builds your corpus for future goals.
Flexible Tenure Options: You can choose from a range of tenures based on your financial goals ranging from 6 months to 25 years offering more flexibility.
Guaranteed Returns: RD provides assured returns at a fixed interest rate making it a safe and predictable investment option.
Low Minimum Investment: Even small monthly contributions can be started, making RDs accessible to salaried individuals, students, homemakers, and first-time investors.
Easy Online & Offline Account Opening: You can open an RD account at a bank branch or through the bank’s online channels offering convenience and flexibility.

Eligibility Criteria for Suryoday Small Finance Bank RD

Here is the eligibility criteria for suryoday small finance bank recurring deposits account-

Any Indian resident with valid identity and address proof can open an RD account.
Individuals below 18 years can open an RD account under the guardianship of a parent or legal guardian.
Two or more individuals can open a joint RD account, subject to bank’s terms and conditions.
HUFs can open an RD account with the Karta as the primary account holder.
Trusts, societies, and non-profit entities may open RD accounts if permitted by the bank and upon submission of required documents.

How to Open Suryoday Small Finance Bank RD?

Investing in the RDs of Suryoday Small Finance Bank is a very simple and hassle-free process. Open your Suryoday Bank recurring deposit by following these simple steps:

Visit the official website or application of Suryoday Small Finance Bank.
Log in to the platform using your mobile number.
Enter your Know Your Customer (KYC) details.
Click on ‘Recurring Deposits’ under the ‘Deposit’ section.
Click on ‘Apply Now’ after reading all the details of the RD schemes.
You will be redirected to a page where you will be asked to enter your name, mobile number, PIN, and product category. Once you are done with these, click on 'Apply Now'.
A representative of Suryoday Small Finance Bank will contact you via call, SMS, email, or WhatsApp.

Conclusion

Suryoday Small Finance Bank Recurring Deposit is a dependable savings option for individuals looking to grow their money through disciplined monthly investments. With competitive interest rates, flexible tenure options ranging from short-term to long-term, and special benefits for senior citizens, Suryoday RD caters to a wide range of financial needs. Whether you are a first-time investor, a salaried professional, or planning long-term goals Suryoday Bank RD a practical and secure choice for steady wealth creation.

Frequently Asked Questions