ICICI Bank Revises Recurring Deposit Interest Rates; What Others Pay

ICICI Bank recently revised its recurring deposits interest rates. 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. On maturity, the depositor is paid a lump-sum amount which includes his/her periodic investments and the interest income earned on them. 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. Institutions such as small finance banks and post offices also offer the facility of recurring deposit..Here is a comparison of recurring deposit (RD) rates offered by ICICI Bank, HDFC Bank and State Bank of India (SBI):.ICICI Bank.Recurring deposit rates offered by ICICI Bank:.table.icici-bank { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.icici-bank th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.icici-bank td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.icici-bank th:nth-child(1), table.icici-bank td:nth-child(1) { width: 40%; text-align: left; } table.icici-bank th:nth-child(1){ width: 40%; text-align: center; } table.icici-bank th:last-child, table.icici-bank td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.icici-bank { display: table; min-width: 280px; max-width: 100%; } table.icici-bank th, table.icici-bank td, table.icici-bank th:nth-child(n+1), table.icici-bank td:nth-child(n+1) { display: table-cell; line-height: normal; } . Rate of Interest (% p.a.) w.e.f November 15, 2018 Maturity Period General Senior Citizen 6 months 6.25 6.75 9 months 6.5 7 12 months 6.9 7.4 15 months 7.1 7.6 18 months 7.1 7.6 21 months 7.1 7.6 24 months 7.1 7.6 27 months 7.5 8 30 months 7.5 8 33 months 7.5 8 36 months 7.5 8 Above 3 years upto 5 years 7.25 7.75 Above 5 years upto 10 years 7 7.5 .HDFC Bank.Recurring deposit rates offered by HDFC Bank:.table.hdfc-bank { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.hdfc-bank th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.hdfc-bank td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.hdfc-bank th:nth-child(1), table.hdfc-bank td:nth-child(1) { width: 40%; text-align: left; } table.hdfc-bank th:nth-child(1){ width: 40%; text-align: center; } table.hdfc-bank th:last-child, table.hdfc-bank td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.hdfc-bank { display: table; min-width: 280px; max-width: 100%; } table.hdfc-bank th, table.hdfc-bank td, table.hdfc-bank th:nth-child(n+1), table.hdfc-bank td:nth-child(n+1) { display: table-cell; line-height: normal; padding:5px; font-size:14px; } . Period Interest Rate (per annum) Senior Citizen Rates (per annum) Effective From 6 Months 6.25% 6.75% Jun 06,2018 9 Months 6.75% 7.25% Aug 06,2018 12 Months 7.30% 7.80% Nov 06,2018 15 Months 7.30% 7.80% Nov 06,2018 24 Months 7.30% 7.80% Nov 06,2018 27 Months 7.40% 7.90% Nov 06,2018 36 Months 7.40% 7.90% Nov 06,2018 39 Months 7.25% 7.75% Nov 06,2018 48 Months 7.25% 7.75% Nov 06,2018 60 Months 7.25% 7.75% Nov 06,2018 90 Months 6.50% 7.00% Nov 06,2018 120 Months 6.50% 7.00% Nov 06,2018 .State Bank of India.RD interest rates according to the bank's website - sbi.co.in:. Maturity period (term) Interest rate with effect from July 30, 2018 General public Senior citizen 7 days to 45 days 5.75 6.25 46 days to 179 days 6.25 6.75 180 days to 210 days 6.35 6.85 211 days to less than 1 year 6.4 6.9 1 year to less than 2 year 6.7 7.2 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.8 7.3 5 years and up to 10 years 6.85 7.35 (Source: sbi.co.in) .However, small finance banks generally offer higher interest rates as compared to many leading banks. table.tble_wrap { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.tble_wrap th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_wrap td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_wrap, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_wrap, thead, tbody, th, td, tr { font-size: 14px; } table.tble_wrap th { padding: 4px; } table.tble_wrap td { padding: 4px; } } /*Media Query END*/

ICICI Bank Revises Recurring Deposit Interest Rates; What Others Pay

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