SBI Recurring Deposit (RD) Account: How It Works, Interest Rates, Other Features

Customers are required to make monthly deposits of a minimum of Rs 100 and in multiples of Rs 10 in a SBI recurring deposit account. There is no maximum limit on the deposits. The minimum period of RDs is 12 months while the maximum is 120 months, according to SBI. The recurring deposit account is subject to tax deducted at source. A loan or overdraft up to 90 per cent is available against the balance in RD account. Premature w...