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.
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.
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:
Punjab National Bank
The following RD interest rates are offered by PNB, according to the bank's website - pnbindia.in:
Kotak Mahindra Bank
The following RD interest rates are offered by Kotak Bank, 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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