Recurring Deposit Schemes: 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 of banks, savings accounts,s, and recurring deposit schemes. Its benefits are being given to both common citizens and senior citizens. Senior citizens usually prefer to invest their money in those schemes then they are away from market risk and give maximum returns to the people.
If you want to make a big corpus by making small investments every month, then investing in RD schemes is a great option for you. Even while you can make tiny deposits in mutual funds using SIP and get large returns each month, this 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-
Jana Small Finance Bank Jana Small Finance Bank increased the interest rates of its RD on 15 June 2022. You can invest a minimum of 6 months and a maximum of 120 months in the RD scheme of the bank. You can also start investing in an RD plan of Rs.100. The 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 Senior Citizens 4.80% on RD for 1 to 6 months, 6.30% for 6 to 12 months, 8.05% for 12 to 24 months, 8.05% on RD Scheme for 24 to 36 months, and RD Scheme for 36 to 60 months. rate provides. Senior citizens get returns of 8.15% and 6.80% on RDs of 60 to 120 months.
2. Utkarsh Small Finance Bank
On August 12, 2022, Utkarsh Small Finance Bank raised its deposit rates. Customers of this small finance bank have access to RD plans with terms ranging from six months to ten years. 120 months. does. The bank offers a maximum interest rate of 8.50% to its senior citizens. 7.00% on RD for 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 8.00 for 21 months %, 21 senior citizens are offered interest rates of 24 months RD 8.00%, 24 to 36 months RD 8.50%, 3 to 5 years RD 7.25% and 5 to 10 years RD scheme 7.25%.
3. North East Small Finance Bank
On April 1, 2022, North East Small Finance Bank raised its deposit rates. The bank gives a return of 8.00% on tenure of 2 years to its customers above 60 years. The bank offers RD schemes 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 5 to 10 year RD. Senior citizens are offered 120 months.
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