A recurring deposit or RD account enables the investor to contribute a fixed amount of money at regular intervals, and 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, an RD account allows the investor to put in a fixed amount of funds at regular intervals; for instance, every month. RD interest rates are subject to change from time to time. Last week, private sector lender ICICI Bank revised its RD interest rates.
A recurring deposit or RD account enables the investor to contribute a fixed amount of money at regular intervals, and 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, an RD account allows the investor to put in a fixed amount of funds at regular intervals; for instance, every month. RD interest rates are subject to change from time to time. Last week, private sector lender ICICI Bank revised its RD interest rates.
A recurring deposit or RD account enables the investor to contribute a fixed amount of money at regular intervals, and 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, an RD account allows the investor to put in a fixed amount of funds at regular intervals; for instance, every month. RD interest rates are subject to change from time to time. Last week, private sector lender ICICI Bank revised its RD interest rates.
(Also read: Latest fixed deposit interest rates paid by banks)
Here is a comparison of RD interest rates paid by State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and ICICI Bank:
State Bank of India
SBI offers the following interest rates on RDs with effect from May 9, 2019, according to the bank's website - sbi.co.in:
Punjab National Bank
PNB offers the following interest rates on RDs with effect from May 1, 2019, according to the bank's website - pnbindia.in:
HDFC Bank
HDFC Bank offers the following interest rates on RDs with effect from March 6, 2019, according to the lender's website - hdfcbank.com:
ICICI Bank
ICICI Bank offers the following interest rates on RDs with effect from June 17, 2019 according to the lender's website - icicibank.com:
However, interest rates offered by small finance banks are often higher compared to commercial banks, and other financial institutions such as designated post offices.
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