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.
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.
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:
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:
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:
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:
HDFC Bank
The following RD interest rates are offered by HDFC Bank, according to the bank's website - hdfcbank.com:
Institutions such as small finance banks and post offices also offer the facility of recurring deposit account.
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