INSUBCONTINENT EXCLUSIVE:
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
On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them
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
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), Yes Bank, HDFC Bank and ICICI Bank:State Bank of IndiaRecurring deposit rates
offered by SBI:TenorsRevised For Public w.e.f
28.11.2018Revised for Senior Citizens w.e.f
28.11.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less
than 2 year6.87.32 years to less than 3 years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35Source:
annum)Senior Citizen Rates (per annum)6 Months7.10%7.60%9 Months7.00%7.50%12 Months7.25%7.75%15 Months7.25%7.75%18 Months7.25%7.75%21
Bank:PeriodInterest Rate (per annum)Senior Citizen Rates (per annum)Effective From6 Months6.25%6.75%Jun 06,20189 Months6.75%7.25%Aug
06,201812 Months7.30%7.80%Nov 06,201815 Months7.30%7.80%Nov 06,201824 Months7.30%7.80%Nov 06,201827 Months7.40%7.90%Nov 06,201836
Months7.40%7.90%Nov 06,201839 Months7.25%7.75%Nov 06,201848 Months7.25%7.75%Nov 06,201860 Months7.25%7.75%Nov 06,201890 Months6.50%7.00%Nov
2018Maturity PeriodGeneralSenior Citizen6 months6.256.759 months6.5712 months6.97.415 months7.17.618 months7.17.621 months7.17.624
months7.17.627 months7.5830 months7.5833 months7.5836 months7.58Above 3 years up to 5 years7.257.75Above 5 years up to 10 years77.5
