Recurring Deposit Schemes: The Reserve Bank is continuously increasing its repo rate to control inflation in the country. In such a situation, its direct effect is visible on the interest rates of Fixed Deposit Rates, Savings Account and Recurring Deposit Scheme of banks. Both common citizens and senior citizens are getting its benefits. Senior citizens usually like to invest their money on those schemes, then they are away from market risk and give maximum returns to the people.
If you want to make a big fund by making small investments every month, then investing in RD Schemes is a great option for you. Although you can get big returns every month by making small investments in mutual funds through SIP, but it also depends on the market risk. Today we are giving you information about RD Schemes of some banks, through which senior citizens can get returns of up to 8% in 2 years. Let’s see the complete list-
1. Jana Small Finance Bank
Jana Small Finance Bank had increased the interest rates of its RD on 15 June 2022. You can invest in the bank’s RD scheme for a minimum period of 6 months and up to a maximum of 120 months. You can also start investing in an RD scheme of Rs.100. Bank gives returns of up to 8.15% in RD to its senior citizens. At the same time, a penalty of 0.5% may have to be paid for withdrawing money from the bank’s RD before maturity. The bank offers 4.80% interest rate to senior citizens on 1 to 6 months RD, 6.30% on 6 to 12 months, 8.05% on 12 to 24 months, 8.05% on 24 to 36 months RD scheme, 36 to 60 months on RD scheme Senior citizens get a return of 8.15% and 6.80% on RD of 60 to 120 months.
2. Utkarsh Small Finance Bank
Utkarsh Small Finance Bank had increased its deposit rates on 12 August 2022. This small finance bank offers its customers RD scheme ranging from 6 months to 10 years i.e. 120 months. The bank offers a maximum interest rate of 8.50% to its senior citizens. 7.00% on RD scheme up to 6 months, 7.00% on RD for 9 months, 7.25% on RD for 12 months, 7.50% on RD for 15 months, 7.75% on RD for 18 months, RD for 21 months 8.00%, 21 to 24 months RD 8.00%, 24 to 36 months RD 8.50%, 3 to 5 year RD 7.25% and 5 to 10 year RD scheme 7.25% interest rates are offered to senior citizens. are.
3. North East Small Finance Bank
North East Small Finance Bank had increased its deposit rates on 1 April 2022. The bank gives a return of 8.00% on a tenure of 2 years to its customers above 60 years. The bank offers RD scheme from 3 months to 120 months to its customers. Bank 4.75% on 3 Month RD, 5.00% on 6 Month RD, 6.00% on 9 Month RD, 6.00% on 1 Year RD, 8.00% on 2 Year RD, 7.50% on 3 Year RD,4 Interest rate of 7.50% on one year RD, 7.00% on 5 year RD and 7.00% on RD of 5 to 10 years i.e. 120 months is offered to senior citizens.
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