Recurring Deposit Interest Rates: ICICI Bank Vs SBI Vs HDFC Bank VS PNB
An RD or recurring deposit is a kind of term deposit wherein a fixed amount of money is deposited at fixed intervals, 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. Earlier this week, ICICI Bank revised its interest rates on both recurring deposits and fixed deposits. Recently, big banks such as State Bank of India, HDFC Bank have also revised their interest rates. The revision in interest rates have come after the Reserve Bank of India hiked the repo rate to 6.5 per cent.
Here is a comparison of recurring deposit (RD) rates offered by ICICI Bank, State Bank of India (SBI), HDFC Bank and Punjab National Bank (PNB):
Recurring deposit (RD) rates offered by ICICI Bank:
| Maturity Period | Rate of Interest (% p.a.) w.e.f August 14, 2018 | Â |
|---|---|---|
| Â | General | Senior Citizen |
| 6 months | 6 | 6.5 |
| 9 months | 6.5 | 7 |
| 12 months | 6.75 | 7.25 |
| 15 months | 7 | 7.5 |
| 18 months | 7 | 7.5 |
| 21 months | 7 | 7.5 |
| 24 months | 7 | 7.5 |
| 27 months | 7.25 | 7.75 |
| 30 months | 7.25 | 7.75 |
| 33 months | 7.25 | 7.75 |
| 36 months | 7.25 | 7.75 |
| Above 3 years upto 5 years | 7.25 | 7.75 |
| Above 5 years upto 10 years | 7 | 7.5 |
Recurring deposit (RD) rates offered by State Bank of India:
Revised from July 30, 2018:
| Term | Interest rate for general public (% per annum) | Interest rate for senior citizens (% per annum) |
|---|---|---|
| 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 |
Recurring deposit (RD) rates offered by HDFC Bank:
Revised from August 6, 2018:
| Period | Interest Rate (per annum) | Senior Citizen Rates (per annum) | Effective From |
|---|---|---|---|
| 6 Months | 6.25% | 6.75% | June 06,2018 |
| 9 Months | 6.75% | 7.25% | August 06,2018 |
| 12 Months | 7.25% | 7.75% | August 06,2018 |
| 15 Months | 7.25% | 7.75% | August 06,2018 |
| 24 Months | 7.25% | 7.75% | August 06,2018 |
| 27 Months | 7.10% | 7.60% | August 06,2018 |
| 36 Months | 7.10% | 7.60% | August 06,2018 |
| 39 Months | 7.10% | 7.60% | August 06,2018 |
| 48 Months | 7.10% | 7.60% | August 06,2018 |
| 60 Months | 7.10% | 7.60% | August 06,2018 |
| 90 Months | 6.00% | 6.50% | Jan 06,2017 |
| 120 Months | 6.00% | 6.50% | Jan 06,2017 |
Recurring deposit (RD) rates offered by Punjab National Bank (PNB):
Domestic TD less than Rs 1 crore w.e.f. August 1, 2018:
| Sl. No | Period | ROI (% p.a.) | For Senior Citizen ROI (% p.a.) |
|---|---|---|---|
| 1 | 7 to 14 days | 5.7 | 6.2 |
| 2 | 15 to 29days | 5.7 | 6.2 |
| 3 | 30 to 45 days | 5.7 | 6.2 |
| 4 | 46 to 90 days | 6.35 | 6.85 |
| 5 | 91 to 179 days | 6.35 | 6.85 |
| 6 | 180 days to 270 Days | 6.35 | 6.85 |
| 7 | 271 days to less than 1 year | 6.35 | 6.85 |
| 8 | 1 year | 6.75 | 7.25 |
| 9 | above 1 year & upto 3 years | 6.75 | 7.25 |
| 10 | above 3 year & upto 5 years | 6.25 | 6.75 |
| 11 | above 5 years & upto 10 years | 6.25 | 6.75 |
However, small finance banks generally offer higher interest rates as compared to many leading banks.
Â
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
