Kalpakanidhi Deposits

Secure & Grow Your Local Earnings

Designed exclusively for NRIs, the SIB Kalpakanidhi NRO Term Deposit allows you to manage and grow your income earned in India — be it rent, dividends, or pension — with complete peace of mind. Offering compounded interest, flexible tenures, and partial repatriation options, this plan ensures your funds are working for you — securely and efficiently.

Reinvestment Plan – Interest is compounded quarterly, maximizing returns.
Flexible Tenure – Fixed deposit periods range from 6 months to 10 years.
Higher Effective Returns – Quarterly compounding helps grow your savings faster.
Auto-Renewal Option – Hassle-free automatic renewal at maturity.
Local Fund Management – Accounts are maintained in Indian Rupees for managing local remittances like rent and other earnings.
Joint Account Facility – Open the deposit as a joint account with another NRI or resident Indian.
Tax Applicability – Interest earned is subject to Indian Income Tax as per applicable laws.
Restricted Repatriation – Repatriation of interest is permitted, while principal repatriation is subject to RBI guidelines.

You can open an NRO Recurring Deposit either online or offline, as per your convenience:
Online Mode
Open your NRO Recurring Deposit instantly using:

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

Simply log in, select the NRO Kalpakanidhi 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 NRO Kalpakanidhi Deposit 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 Deposit through:
- Inward remittance from abroad
- Transfer from your existing NRE/NRO account

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

To view the latest interest rates, click here

Plan Your Returns
Use our Deposit Calculator to estimate your returns based on deposit amount, tenure, and interest payout frequency.