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Top Lenders Pay These Interest Rates On Recurring Deposit Accounts

Recurring deposit interest rate: Institutions such as small finance banks and post offices also offer the facility of recurring deposit account

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Top Lenders Pay These Interest Rates On Recurring Deposit Accounts

RD interest rates are subject to change from time to time


Recurring deposit (RD) is a kind of term deposit that enables investors to contribute a fixed amount of money at regular intervals, and generates a guaranteed interest income. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, an RD account allows the investor to put in a fixed amount of funds at regular intervals; for instance, every month. On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them. The interest rates applicable to RD accounts vary from bank to bank, and are subject to change from time to time.

Here is a comparison of recurring deposit (RD) interest rates paid by State Bank of India (SBI), Punjab National Bank (PNB) ICICI Bank and HDFC Bank:

State Bank of India RD interest rates

SBI offers the following interest rates on RD accounts with effect from May 9, 2019, according to the bank's website - sbi.co.in:

TenorsGeneral public (% p.a.) Senior citizens (% p.a.)
1 year to less than 2 year6.87.3
2 years to less than 3 years6.87.3
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35

Punjab National Bank RD interest rates

PNB offered the following interest rates on RDs with effect from May 1, 2019, according to the bank's website - pnbindia.in:

TenorsGeneral public (% p.a.)Senior citizens (% p.a.)
180 days to 270 Days6.356.85
222 days6.67.1
271 days to less than 1 year6.356.85
333 days6.957.45
1 year77.5
555 days6.857.35
above 1 year & up to 3 years6.757.25
above 3 year & up to 5 years6.256.75
above 5 years & up to 10 years6.256.75

IndusInd Bank RD interest rates

IndusInd Bank the following RD interest rates with effect from April 25, 2019 according to the lender's website, indusind.com:

TenorsGeneral public (% p.a.)Senior citizens (% p.a.)
12 Months7.68.1
15 Months7.68.1
18 Months7.758.25
21 Months7.758.25
24 Months7.758.25
27 Months7.758.25
30 Months7.758.25
33 Months7.758.25
3 years  - less than 5 years7.357.85
5 years - 10 years7.257.75

HDFC Bank RD interest rates

HDFC Bank offers the following interest rates on RD investments, according to the lender's website - hdfcbank.com: 

TenorsGeneral public (% p.a.)

Senior citizens (% p.a.)

Effective From
6 Months6.256.75June 06, 2018
9 Months6.757.25August 06, 2018
12 Months7.307.80November 06, 2018
15 Months7.307.80November 06, 2018
24 Months7.307.80November 06, 2018
27 Months7.407.90November 06, 2018
36 Months7.407.90November 06, 2018
39 Months7.257.75November 06, 2018
48 Months7.257.75November 06, 2018
60 Months7.257.75November 06, 2018
90 Months6.507.00November 06, 2018
120 Months6.507.00November 06, 2018

ICICI Bank RD interest rates

ICICI Bank offers the following interest rates on RD accounts with effect from March 7, 2019 according to the lender's website - icicibank.com:

TenorsGeneral public (% p.a.)Senior citizens (% p.a.)
6 months6.256.75
9 months6.57
12 months6.97.4
15 months7.17.6
18 months7.17.6
21 months7.17.6
24 months7.17.6
27 months7.58
30 months7.58
33 months7.58
36 months7.58
Above 3 years up to 5 years7.257.75
Above 5 years up to 10 years77.5

Institutions such as small finance banks and post offices also offer the facility of recurring deposit account.



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