Recurring Deposits

Grow Your Savings with Monthly Investments

South Indian Bank’s NRE Recurring Deposit (RD) Scheme is crafted for NRIs seeking disciplined, monthly savings with guaranteed returns. Ideal for salaried individuals and those with regular incomes abroad, this deposit plan helps you grow your wealth steadily, while enjoying repatriation and tax benefits.

Monthly Investment Plan - Make regular deposits over a fixed period
Lump Sum Payout on Maturity - Get the total amount invested plus accumulated interest at maturity
Ideal for Salaried Individuals - Encourages disciplined saving habits with fixed monthly contributions
Flexible Tenure - Choose a deposit period ranging from 12 months to 120 months
Easy Online Payments - Remit installments conveniently via internet banking
Full Repatriation - Both principal and interest can be fully repatriated
Joint Account Facility - Open a recurring deposit as a joint account with another NRI
Tax Benefits - No Income Tax Deduction at Source (TDS) on interest earned
Wealth & Income Tax Exemption - Balance is exempt from wealth tax, and interest earned is tax-free in India

You can open an NRE Recurring Deposit either online or offline, as per your convenience:

Online Mode
Open your NRE Recurring Deposit instantly using:

SIB Mirror+ (Mobile Banking App)
SIBerNet (Internet Banking Portal)

Simply log in, select the NRE Recurring Deposit option, choose your tenure and amount, and confirm the deposit—no paperwork needed.

Offline Mode
Prefer visiting a branch? Here's how:

Download and fill the Application Form
Submit the form along with required KYC documents at your nearest South Indian Bank branch or send them via email to our NRI helpdesk.
Fund your FD through:
- Inward remittance from abroad
- Transfer from your existing NRE/FCNR(B) account

A bank representative will guide you through the rest of the process.