INSUBCONTINENT EXCLUSIVE:
Recurring deposit interest rates, once determined, do not change during the tenure.Recurring deposit (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 periodic investments and the interest income earned on it
Institutions such as small finance banks and post offices also offer the facility of recurring deposit.Here is a comparison of recurring
deposit (RD) rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank and Yes 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 HDFC Bank: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
months77.518 months77.521 months77.524 months77.527 months7.257.7530 months7.257.7533 months7.257.7536 months7.257.75Above 3 years upto 5
June 2018*PeriodInterest Rate (per annum)Senior Citizen Rates (per annum)6 Months6.70%7.20%9 Months6.70%7.20%12 Months7.10%7.60%15
the best interest rates on recurring deposits are offered by small finance banks
Their interest rates on savings, fixed and recurring deposits are usually higher than their larger peers as well as post offices.
