Profit

Recurring Deposit Interest Rates: Here's What Small Finance Banks Offer

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

 Share
EMAIL
PRINT
COMMENTS
Recurring Deposit Interest Rates: Here's What Small Finance Banks Offer

Institutions such as post offices also offer the facility of recurring deposit account.


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. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, a recurring deposit (RD) account allows the investor to invest 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.

Here's a comparison of fixed deposit (FD) interest rates paid by Jana Small Finance Bank, AU Small Finance Bank, ESAF Small Finance Bank and Suryoday Small Finance Bank:

Jana Small Finance Bank

The following RD interest rates are offered by Jana bank, according to the bank's website, janabank.com:

PeriodGeneral public (% p.a.)Senior citizens (% p.a.) 
> 1 month - 6 months6.00%6.60%
> 6 months - 12 months8.50%9.10%
> 12 months - 24 months8.50%9.10%
> 24 months - < 36 months8.50%9.10%
= 36 months9.00%9.60%
> 36 months - 60 months8.50%9.10%
> 60 months - 120 months7.00%7.60%

AU Small Finance Bank

The following RD interest rates are offered by AU bank, according to the bank's website, aubank.in:

PeriodGeneral public (% p.a.)Senior citizens (% p.a.)
3 Months6.75%7.25%
6 Months6.90%7.40%
9 Months to 12 Months7.01%7.51%
15 Months to 18 months7.77%8.27%
21 Months to 24 months8.01%8.51%
27 Months to 36 months8.24%8.74%
37 Months to 45 Months7.53%8.03%
46 Months to 60 Months7.77%8.27%
61 Months to 120 Months7.30%7.80%

ESAF Small Finance Bank

The following RD interest rates are offered by ESAF bank, according to the bank's website, esafbank.com: 

PeriodGeneral public (% p.a.)Senior citizens (% p.a.)
180 - 363 days7.50%8.00%
364 days5.60%6.10%
365 - 727 days8.75%9.25%
728 days6.80%7.30%
729 - 1091 days8.00%8.50%
1092 days5.66%6.16%
1093 - 1819 days7.30%7.80%
1820 days5.65%6.15%
1821 - 3652 days7.30%7.80%

Suryoday Small Finance Bank

The following RD interest rates are offered by Suryoday bank, according to the bank's website, suryodaybank.com:

Period

General public (% p.a.)

Senior citizens (% p.a.)

6 months7.50%8.00%
9 months7.75%8.25%
12 months8.50%9.00%
15 months8.50%9.00%
18 months8.50%9.00%
21 months8.50%9.00%
24 months8.50%9.00%
27 months8.75%9.25%
30 months8.75%9.25%
33 months8.75%9.25%
36 months8.75%9.25%
Above 3 Years to less than 5 Years8.00%8.50%
5 Years8.25%8.75%
Above 5 Years to 10 Years7.25%7.75%

Institutions such as post offices also offer the facility of recurring deposit account. 



Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top