INSUBCONTINENT EXCLUSIVE:
Recurring deposit interest rates, once determined, do not change during the tenure.Recurring Deposit or RD is a kind of term deposit under
which one needs to deposit a fixed amount at fixed interval, which generates interest income
Recurring deposit interest rates, once determined, do not change during the tenure
In fact, the Reserve Bank of India ensures that strict guidelines are followed by banks
On maturity, the depositor is paid a lump sum amount which includes his periodic investments and the interest income earned on them
Institutions such as small finance banks and post offices also offer the facility of RD.Here is a comparison of recurring deposit (RD) rates
offered by State Bank of India (SBI), IndusInd Bank, Punjab National Bank (PNB) and HDFC Bank:Recurring deposit (RD) rates offered by State
Bank of India:Revised from July 30, 2018:TermInterest rate for general public (% per annum)Interest rate for senior citizens (% per annum)7
days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2
rates offered by IndusInd Bank:Revised from June 1, 2018:TenureInterest Rate p.a.(%)Senior Citizen Rates p.a.(%)12 Months7.65%8.15%15
Months7.40%7.90%18 Months7.40%7.90%21 Months7.40%7.90%24 Months7.25%7.75%27 Months7.25%7.75%30 Months7.25%7.75%33 Months7.25%7.75%3 years -
NoPeriodROI (% p.a.)For Senior Citizen ROI (% p.a.)17 to 14 days5.76.2215 to 29days5.76.2330 to 45 days5.76.2446 to 90 days6.356.85591 to
179 days6.356.856180 days to 270 Days6.356.857271 days to less than 1 year6.356.8581 year6.757.259above 1 year upto 3 years6.757.2510above
2018:PeriodInterest Rate (per annum)Senior Citizen Rates (per annum)Effective From6 Months6.25%6.75%June 06,20189 Months6.75%7.25%August
06,201812 Months7.25%7.75%August 06,201815 Months7.25%7.75%August 06,201824 Months7.25%7.75%August 06,201827 Months7.10%7.60%August
06,201836 Months7.10%7.60%August 06,201839 Months7.10%7.60%August 06,201848 Months7.10%7.60%August 06,201860 Months7.10%7.60%August
