Recurring deposit accounts with post offices fetch an interest rate of 6.9% per annum.
Recurring deposit (RD) accounts offer interest rates similar to those on fixed deposit (FD) accounts. The benefit of opening a recurring deposit is that your money does not get blocked until fixed periods of time like in FDs. RDs require customers to make monthly deposits with banks, based on which RDs generate interest income for their customers. Thus, RDs provide an opportunity to customers build up savings through regular monthly deposits of a fixed sum over a period of time.
Given below are interest rates on recurring deposit (RD) accounts offered by State Bank of India (SBI), ICICI Bank, HDFC Bank and post offices
Recurring deposit (RD) interest rates offered by SBI
All figures in % per annum on deposits of less than Rs 1 crore according to SBI website, sbi.co.in:
| Tenors | Existing for Public w.e.f. 28.02.2018 | Revised For Public w.e.f. 28.03.2018 | Existing for Senior Citizens w.e.f. 28.02.2018 | Revised for Senior Citizens w.e.f. 28.03.2018 |
| 7 days to 45 days | 5.75 | 5.75 | 6.25 | 6.25 |
| 46 days to 179 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 180 days to 210 days | 6.35 | 6.35 | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.4 | 6.4 | 6.9 | 6.9 |
| 1 year to less than 2 year | 6.4 | 6.4 | 6.9 | 6.9 |
| 2 years to less than 3 years | 6.5 | 6.6 | 7 | 7.1 |
| 3 years to less than 5 years | 6.5 | 6.7 | 7 | 7.2 |
| 5 years and up to 10 years | 6.5 | 6.75 | 7 | 7.25 |
Features, conditions of SBI Recurring DepositsRecurring deposit (RD) interest rates offered by ICICI Bank (from icicibank.com)| Maturity Period | Rate of Interest (% p.a.) w.e.f December 11, 2017 |
| | General | Senior Citizen |
| 6 months | 6 | 6.5 |
| 9 months | 6.25 | 6.75 |
| 12 months | 6.6 | 7.1 |
| 15 months | 6.75 | 7.25 |
| 18 months | 6.75 | 7.25 |
| 21 months | 6.75 | 7.25 |
| 24 months | 6.75 | 7.25 |
| 27 months | 6.5 | 7 |
| 30 months | 6.5 | 7 |
| 33 months | 6.5 | 7 |
| 36 months | 6.5 | 7 |
| Above 3 years upto 5 years | 6.5 | 7 |
| Above 5 years upto 10 years | 6.5 | 7 |
Recurring deposit (RD) interest rates offered by HDFC Bank (from hdfcbank.com)| Period | < 1 Crore |
| | Interest Rate | **Senior Citizen Rates |
| | (per annum) | (per annum) |
| 7 - 14 days | 3.50% | 4.00% |
| 15 - 29 days | 4.25% | 4.75% |
| 30 - 45 days | 5.50% | 6.00% |
| 46 - 60 days | 5.75% | 6.25% |
| 61 - 90 days | 5.75% | 6.25% |
| 91 days - 6 months | 5.75% | 6.25% |
| 6 mnths 1 day- 6 mnths 3 days | 6.00% | 6.50% |
| 6 mnths 4 days | 6.00% | 6.50% |
| 6 mnths 5 days- 9 mnths | 6.00% | 6.50% |
| 9 mnths 1 day- 9 mnths 3 days | 6.00% | 6.50% |
| 9 mnths 4 days | 6.00% | 6.50% |
| 9 months 5 days - 9 months 15 days | 6.00% | 6.50% |
| 9 months 16 days | 6.25% | 6.75% |
| 9 months 17 days < 1 Year | 6.25% | 6.75% |
| 1 Year | 6.85% | 7.35% |
| 1 year 1 day - 1 year 3 days | 6.50% | 7.00% |
| 1 year 4 days | 6.25% | 6.75% |
| 1 year 5 days - 1 Year 15 Days | 6.25% | 6.75% |
| 1 Year 16 days | 6.25% | 6.75% |
| 1 year 17 days - 2 Years | 7.00% | 7.50% |
| 2 years 1day - 2 Years 15 days | 7.00% | 7.50% |
| 2 Years 16 days | 7.00% | 7.50% |
| 2 years 17 days - 3 Years | 7.00% | 7.50% |
| 3 years 1day - 5 years | 7.00% | 7.50% |
| 5 Years 1 Day - 8 Years | 6.00% | 6.50% |
| 8 Years 1 Day - 10 Years | 6.00% | 6.50% |
Recurring deposit (RD) interest rates offered by post officesRecurring deposit accountspost officesRD account
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