Recurring Deposit Interest Rates: SBI Vs HDFC Bank Vs ICICI Bank Vs Yes Bank

Recurring deposit interest rates, once determined, do not change during the tenure.

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. 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. On maturity, the depositor is paid a lump-sum amount which includes periodic investments and the interest income earned on it. 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 State Bank of India (SBI), HDFC Bank, ICICI Bank and Yes Bank:

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:

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 ICICI Bank:

Maturity Period	Rate of Interest (% p.a.) w.e.f August 14, 2018
	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 Yes Bank:

Resident Recurring Deposit rates w.e.f 5th June 2018*
Period	Interest Rate (per annum)	Senior Citizen Rates (per annum)
6 Months	6.70%	7.20%
9 Months	6.70%	7.20%
12 Months	7.10%	7.60%
15 Months	7.10%	7.60%
18 Months	7.10%	7.60%
21 Months	7.10%	7.60%
24 Months	7.10%	7.60%
Above 2 years up to 10 Years	7.10%	7.60%
Source: yesbank.in

However, the best interest rates on recurring deposits are offered by small finance banks. Their interest rates on savings, fixed and recurring deposits are usually higher than their larger peers as well as post offices.