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SIB Recurring Deposit Features, Benefits and Rates in 2026
South Indian Bank (SIB) Recurring Deposit (RD) offers a convenient way to grow your savings through regular monthly investments at competitive interest rates. Whether you are a general customer or a senior citizen, SIB provides a wide range of RD tenures with varying interest rates to suit different financial goals. The South Indian Bank's Recurring Deposit (RD) brings to you annual interest rates up to 6.60% (for general people) and 7.10% (for senior citizens). Continue reading to know the latest South Indian Bank RD interest rates.
South Indian Bank RD Interest Rate
Here is an overview of the South Indian Bank RD interest rates that you need to know about:
Tenure | Yearly Interest Rates (General Citizens) | Yearly Interest Rates (Senior Citizens) |
7 days to 30 days | 2.90% | 3.40% |
31 days to 90 days | 3.50% | 4.00% |
91 days to 99 days | 4.50% | 5.00% |
100 days to 180 days | 4.80% | 5.30% |
181 days to 270 days | 5.50% | 6.00% |
271 days to less than 1 year | 5.90% | 6.40% |
1 year | 6.35% | 6.85% |
Above 1 year to less than 2 years | 5.95% | 6.45% |
2 years | 6.60% | 7.10% |
Above 2 years to less than 5 years | 6.20% | 6.70% |
5 years to less than 66 months | 5.70% | 6.20% |
66 months (Green deposit) | 6.00% | 6.50% |
Above 66 months to upto and including 10 years | 5.70% | 6.20% |
Tax Gain ( 5 Years ) | 5.70% | 6.20% |
What is the SIB Recurring Deposit?
The SIB Recurring Deposit is a term deposit scheme provided by the South Indian Bank (SIB). It helps individuals save and earn money by depositing in the form of fixed instalments each month. Apart from high interest rates, you also get to enjoy a flexible tenure when choosing RDs here.
Features of Recurring Deposit
Here is a list of some of the key characteristics of the South Indian Bank RD Account:
- The bank provides a certificate for Tax Deducted at Source (TDS).
- Depositors can pay remittances for instalments through the online banking facility.
- The interest rates depend on the total chosen tenure.
- The monthly instalment period is fixed for a minimum of 7 days and for a maximum of 10 years.
Benefits of Recurring Deposit
Here are some of the benefits of investing in the RD Account of South Indian Bank:
- With a minimal investment of ₹100, you can open an RD account.
- RD accounts pay more interest compared to normal savings accounts.
- The rate of interest for RD remains constant, hence resulting in larger earnings.
- You are eligible to opt for an overdraft or loan for 90% of your deposited sum from the South Indian Bank.
Eligibility Criteria for South Indian Bank Recurring Deposit
- Indian residents of any age can open an RD account.
- Minors can open an RD account through a guardian or parent.
- Individuals aged 60 years and above are eligible and may receive slightly higher interest rates.
- HUFs an open RD accounts in the name of the HUF.
Documents Required to Open South Indian Bank Recurring Deposit
- Aadhaar Card
- PAN Card (mandatory for tax purposes)
- Passport / Voter ID / Driving License (any one)
- Utility bill (electricity, water, gas bill)
- Recent passport-size photo
Conclusion
South Indian Bank Recurring Deposit is a reliable savings option for individuals looking to build wealth through disciplined monthly investments with assured returns. With flexible tenures ranging from a few days to 10 years, competitive interest rates for both general and senior citizens, and a low minimum investment requirement, SIB RD suits a wide range of financial goals. Backed by stable returns, loan and overdraft facilities, and easy online remittance options, it offers both convenience and security. Before investing, assess your savings capacity and tenure carefully to make the most of the interest benefits offered by South Indian Bank RD in 2026
