INSUBCONTINENT EXCLUSIVE:
Recurring Deposit (RD) is a kind of term deposit, which helps people to deposit a fixed amount.Recurring Deposit (RD) is a kind of term
deposit, which helps people to deposit a fixed amount into their RD account
Small finance banks generally offer higher interest rates as compared to many leading banks
Small finance banks are banks, which provide financial inclusion to small businesses, micro and small industries
The interest rates on recurring deposits of large banks like State Bank of India, ICICI Bank are not as high as those offered by small
finance banks such as Equitas Small Finance Bank, AU Small Finance Bank and Suryoday Bank.Here are the Recurring Deposit interest rate on
1 crore12 Months8.00%15 Months8.00%18 Months8.00%21 Months7.75%24 Months7.75%30 Months7.75%36 Months7.75%48 Months7.00%60 Months7.00%90
Months7.00%120 Months7.00%TDS (Tax Deducted at Source) will be deducted as applicable, said the bank
Months7.75%8.25%18 Months7.75%8.25%21 Months7.15%7.65%24 Months7.15%7.65%27 Months7.25%7.75%30 Months7.25%7.75%33 Months7.25%7.75%36
Months7.25%7.75%37 Months to 45 Months7.30%7.80%46 Months to 60 Months8.00%8.50%61 Months to 120 months7.25%7.75%The amount on the
instalment of recurring deposit account, once fixed, cannot be changed at any later date
Partial payment of RD instalments is not permitted and for premature withdrawals, AU Small Finance Bank levies a penalty of 1 per cent on
the applicable rate, said the bank.Recurring deposit (RD) interest rates of Suryoday Bank:Interest Rates PeriodDomestic Deposits Interest
Rate (Per Annum)Senior Citizen Rate (Per Annum)6 months7.50%7.75%9 months7.75%8.00%12 months8.50%8.75%15 months8.50%8.75%18
months8.50%8.75%21 months8.50%8.75%24 months8.50%8.75%27 months8.75%9.00%30 months8.75%9.00%33 months8.75%9.00%36 months8.75%9.00%Above 3
years to 5 years7.75%8.00%Above 5 years to 10 years7.25%7.50%The rate applicable on premature withdrawal would be 1 per cent less than the
rate applicable from the lower of the two:Rate for original tenure for which the deposit has been booked (as on the date of booking the
deposit).Rate for the actual tenure for which the deposit was in force with the Bank (as on the date of booking the deposit)
