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Recurring Deposit Interest Rates: Here's What Public, Private 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.

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Recurring Deposit Interest Rates: Here's What Public, Private Banks Offer

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


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 is a comparison of recurring deposit (RD) rates offered by State Bank of India, Punjab National Bank, Kotak Mahindar Bank,ICICI Bank and HDFC Bank:

State Bank of India 

The following RD interest rates are offered by SBI, according to the bank's website - sbi.co.in:

TenorsRevised For Public w.e.f. 22.02.2019Revised for Senior Citizens w.e.f. 22.02.2019
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, according to the bank's website - pnbindia.in:

PeriodGeneral publicSenior citizen
180 days to 270 Days6.356.85
222 days6.67.1
271 days to less than 1 year6.356.85
333 days7.17.6
1 year6.757.25
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, according to the bank's website - kotak.com:

Recurring deposit rates effective from March 26, 2019
TenureInterest Rate p.a. Senior Citizen Rates p.a.
6 Months6.60%7.10%
9 Months7.00%7.50%
12 Months7.00%7.50%
15 Months7.20%7.70%
18 Months7.20%7.70%
21 Months7.20%7.70%
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 - 10 years6.50%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:

Maturity PeriodGeneralSenior Citizen
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: 

PeriodInterest Rate
(per annum)

Senior Citizen Rates
(per annum)

Effective From
6 Months6.25%6.75%June 06, 2018
9 Months6.75%7.25%August 06, 2018
12 Months7.30%7.80%November 06, 2018
15 Months7.30%7.80%November 06, 2018
24 Months7.30%7.80%November 06, 2018
27 Months7.40%7.90%November 06, 2018
36 Months7.40%7.90%November 06, 2018
39 Months7.25%7.75%November 06, 2018
48 Months7.25%7.75%November 06, 2018
60 Months7.25%7.75%November 06, 2018
90 Months6.50%7.00%November 06, 2018
120 Months6.50%7.00%November 06, 2018

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



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