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Here Are Recurring Deposit Interest Rates Paid By Top Banks

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

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Here Are Recurring Deposit Interest Rates Paid By Top Banks

RD interest rates are subject to change from time to time


Recurring Deposit (RD) is a kind of term deposit under which investors need to deposit a fixed amount at a fixed interval, which 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 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.

RD interest rates are subject to change from time to time. Punjab National Bank (PNB) revised its interest rates with effect from May 1, 2019, according to the lender's website.

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

State Bank of India

The following RD interest rates are offered by SBI with effect from February 22, 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

The following RD interest rates are offered by PNB 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

Kotak Mahindra Bank

The following RD interest rates are offered by Kotak Bank with effect from April 25, 2019 according to the bank's website, kotak.com:

TenorsGeneral public (% p.a.)Senior citizens (% p.a.)
6 Months6.50%7.00%
9 Months6.75%7.25%
12 Months7.20%7.70%
15 Months7.25%7.75%
18 Months7.25%7.75%
21 Months7.25%7.75%
24 Months7.10%7.60%
27 Months7.10%7.60%
30 Months7.10%7.60%
33 Months7.10%7.60%
3 years - less than 4 years7.00%7.50%
4 years - less than 5 years7.00%7.50%
5 years - 10years6.50%7.00%

ICICI Bank 

The following RD interest rates are offered by ICICI Bank with effect from March 7, 2019 according to the bank'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

HDFC Bank 

The following RD interest rates are offered by HDFC Bank, according to the bank'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

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



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