INSUBCONTINENT EXCLUSIVE:
Institutions such as small finance banks and post offices also offer the facility of recurring depositRecurring 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.Here is
a comparison of recurring deposit (RD) rates offered by State Bank of India, Punjab National Bank, IndusInd Bank, ICICI Bank and HDFC
years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35Punjab National BankThe following RD interest rates are
offered by PNB, according to the bank's website - pnbindia.in:TenorsGeneral public (% p.a.)Senior citizens (% p.a.)180 days to 270
Days6.356.85222 days6.67.1271 days to less than 1 year6.356.85333 days7.17.61 year6.757.25555 days6.857.35above 1 year up to 3
years6.757.25above 3 year up to 5 years6.256.75above 5 years up to 10 years6.256.75IndusInd BankThe following RD interest rates are
offered by IndusInd Bank, according to the bank's website - indusind.com:TenorsGeneral public (% p.a.)Senior citizens (% p.a.)12
Months88.515 Months88.518 Months88.521 Months88.524 Months7.5827 Months7.5830 Months7.5833 Months7.583 years - less than 5 years7.585 years
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