Recurring Deposit

Build Your Savings with Monthly Investments

South Indian Bank’s NRO Recurring Deposit is the perfect tool for NRIs who wish to grow their Indian income through disciplined monthly savings. Whether it’s rental income or local earnings, this plan offers a simple, secure way to build wealth steadily — with the benefit of attractive interest and flexible tenures.

Systematic Savings Plan – Save monthly over a fixed period to build financial stability.
Lump Sum Payout on Maturity – Receive 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.
Tax-Free Interest – No Income Tax Deduction at Source (TDS) on interest earned.
Local Fund Management – Accounts are maintained in Indian Rupees for managing local remittances like rent and other earnings.
Joint Account Facility – Open an RD 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 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 NRO Fixed 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 RD 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 RD Calculator to estimate your returns based on deposit amount, tenure, and interest payout frequency.