Recurring Deposit Interest Rates Paid By Key Banks Compared

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 park a 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. .Here is a comparison of recurring deposit (RD) rates offered by State Bank of India (SBI), IndusInd Bank, HDFC Bank and ICICI Bank:.State Bank of India.Recurring deposit rates offered by SBI:. Tenors Revised For Public w.e.f. 28.11.2018 Revised for Senior Citizens w.e.f. 28.11.2018 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 6.8 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 (Source: sbi.co.in) .IndusInd Bank.Recurring deposit rates offered by IndusInd Bank:.table.indus { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.indus th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.indus td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.indus th:nth-child(1), table.indus td:nth-child(1) { width: 40%; text-align: left; } table.indus th:last-child, table.indus td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.indus { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.indus th, table.indus td, table.indus th:nth-child(n+1), table.indus 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.Recurring deposit rates offered by HDFC Bank: .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.Recurring deposit rates offered by ICICI Bank:.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 .Recurring deposit interest rates, once determined, do not change during the tenure. Institutions such as small finance banks and post offices also offer the facility of recurring deposit..table.sbi { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.sbi th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.sbi td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.sbi th:nth-child(1), table.sbi td:nth-child(1) { width: 40%; text-align: left; } table.sbi th:last-child, table.sbi td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.sbi { display: table; min-width: 280px; max-width: 100%; } table.sbi th, table.sbi td, table.sbi th:nth-child(n+1), table.sbi td:nth-child(n+1) { display: table-cell; line-height: normal; } table.sbi th:last-child, table.sbi td:last-child { border-right: 0; }

Recurring Deposit Interest Rates Paid By Key Banks Compared

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