Recurring Deposit (RD) Interest Rates: Here's What Top Lenders Offer

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..Given below are the recurring deposit (RD) rates offered by State Bank of India (SBI), Canara Bank, IndusInd Bank, HDFC Bank and ICICI Bank:.State Bank of India (SBI).The following RD interest rates are offered by SBI, according to the bank's website - sbi.co.in:.table.sbi_tab { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.sbi_tab th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.sbi_tab td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.sbi_tab th:last-child, table.sbi_tab td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.sbi_tab { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.sbi_tab th, table.sbi_tab td, table.sbi_tab th:nth-child(n+1), table.sbi_tab td:nth-child(n+1) { display: table-cell; line-height: normal; } } . Tenors Revised For Public w.e.f. 28.11.2018 Revised for Senior Citizens w.e.f. 28.11.2018 1 year to less than 2 year 6.8 7.3 2 years to less than 3 years 6.8 7.3 3 years to less than 5 years 6.8 7.3 5 years and up to 10 years 6.85 7.35 .Canara Bank.The following RD interest rates are offered by Canara Bank, according to the bank's website - canarabank.in:.table.canara_tab { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.canara_tab th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.canara_tab td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.canara_tab th:last-child, table.canara_tab td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.canara_tab { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.canara_tab th, table.canara_tab td, table.canara_tab th:nth-child(n+1), table.canara_tab td:nth-child(n+1) { display: table-cell; line-height: normal; } } . Term Deposits General Public Senior Citizen 180 days to 269 days 6.35 6.85 270 days to less than 1 year 6.4 6.9 1 year only 7 7.5 Above 1 year to less than 2 years 7 7.5 2 years & above to less than 3 years 6.7 7.2 3 years & above to less than 5 years 6.2 6.7 5 years & above to less than 8 years 6.2 6.7 8 years & above to 10 years 6.2 6.7 444 Days (Canara Shikhar Deposit) 7.05 7.55 555 Days (Canara Shikhar Deposit) 7.1 7.6 .IndusInd Bank.The following RD interest rates are offered by IndusInd Bank, according to the bank's website - indusind.com:.table.indus_tab { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.indus_tab th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.indus_tab td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.indus_tab th:last-child, table.indus_tab td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.indus_tab { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.indus_tab th, table.indus_tab td, table.indus_tab th:nth-child(n+1), table.indus_tab td:nth-child(n+1) { display: table-cell; line-height: normal; } } . Tenure Interest Rate p.a.(%) Senior Citizen Rates p.a.(%) 12 Months 8 8.5 15 Months 8 8.5 18 Months 8 8.5 21 Months 8 8.5 24 Months 7.5 8 27 Months 7.5 8 30 Months 7.5 8 33 Months 7.5 8 3 years - less than 5 years 7.5 8 5 years - 10 years 7.25 7.75 .HDFC Bank.The following RD interest rates are offered by HDFC Bank, according to the bank's website - hdfcbank.com:.table.tble-wrap { border-top: solid 1px #ccc; border-left: 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*/ /* 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: 13px; } table.tble-wrap th { padding: 4px; } table.tble-wrap td { padding: 4px; } } /*Media Query END*/ . 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 7.30% 7.80% November 06, 2018 15 Months 7.30% 7.80% November 06, 2018 24 Months 7.30% 7.80% November 06, 2018 27 Months 7.40% 7.90% November 06, 2018 36 Months 7.40% 7.90% November 06, 2018 39 Months 7.25% 7.75% November 06, 2018 48 Months 7.25% 7.75% November 06, 2018 60 Months 7.25% 7.75% November 06, 2018 90 Months 6.50% 7.00% November 06, 2018 120 Months 6.50% 7.00% November 06, 2018 .ICICI Bank.The following RD interest rates are offered by ICICI Bank, according to the bank's website - icicibank.com:.table.tble-wrap1 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; font-size: 16px; } table.tble-wrap1 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble-wrap1 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble-wrap1, thead, tbody, th, td, tr { font-size: 13px; } table.tble-wrap1 th { padding: 4px; } table.tble-wrap1 td { padding: 4px; } } /*Media Query END*/ . 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 up to 5 years 7.25 7.75 Above 5 years up to 10 years 7 7.5 .Institutions such as small finance banks and post offices also offer the facility of recurring deposit.

Recurring Deposit (RD) Interest Rates: Here's What Top Lenders Offer

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