Recurring Deposit or RD is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Recurring deposit interest rates, once determined, do not change during the tenure. In fact, the Reserve Bank of India ensures that strict guidelines are followed by banks. On maturity, the depositor is paid a lump sum amount which includes his periodic investments and the interest income earned on them. Institutions such as small finance banks and post offices also offer the facility of RD.
Recurring Deposit or RD is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Recurring deposit interest rates, once determined, do not change during the tenure. In fact, the Reserve Bank of India ensures that strict guidelines are followed by banks. On maturity, the depositor is paid a lump sum amount which includes his periodic investments and the interest income earned on them. Institutions such as small finance banks and post offices also offer the facility of RD.
Recurring Deposit or RD is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Recurring deposit interest rates, once determined, do not change during the tenure. In fact, the Reserve Bank of India ensures that strict guidelines are followed by banks. On maturity, the depositor is paid a lump sum amount which includes his periodic investments and the interest income earned on them. Institutions such as small finance banks and post offices also offer the facility of RD.
Here is a comparison of recurring deposit (RD) rates offered by State Bank of India (SBI), IndusInd Bank, Punjab National Bank (PNB) and HDFC Bank:
Recurring deposit (RD) rates offered by State Bank of India:
Revised from July 30, 2018:
Recurring deposit (RD) rates offered by IndusInd Bank:
Revised from June 1, 2018:
Recurring deposit (RD) rates offered by Punjab National Bank (PNB):
Domestic TD less than Rs 1 crore w.e.f. August 1, 2018:
Recurring deposit (RD) rates offered by HDFC Bank:
Revised from August 6, 2018:
However, small finance banks generally offer higher interest rates as compared to many leading banks.
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