INSUBCONTINENT EXCLUSIVE:
The revision in interest rates have come after the RBI hiked the repo rate to 6.5%.Recurring Deposit or RD is a kind of term deposit under
which one needs to deposit a fixed amount at fixed interval, which generates interest income
Recurring deposit interest rates, once determined, do not change during the tenure
On maturity, the depositor is paid a lump-sum amount which includes his/her periodic investments and the interest income earned on
The revision in interest rates have come after the Reserve Bank of India hiked the repo rate to 6.5 per cent.Here is a comparison of
recurring deposit (RD) rates offered by State Bank of India (SBI), HDFC Bank and ICICI Bank:Recurring deposit (RD) rates offered by State
Bank of India:Revised from July 30, 2018:TermInterest rate for general public (% per annum)Interest rate for senior citizens (% per annum)7
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
year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up to 10 years6.857.35Recurring deposit (RD)
rates offered by HDFC Bank:Revised from August 6, 2018:PeriodInterest Rate (per annum)Senior Citizen Rates (per annum)Effective From6
Months6.25%6.75%June 06,20189 Months6.75%7.25%August 06,201812 Months7.25%7.75%August 06,201815 Months7.25%7.75%August 06,201824
Months7.25%7.75%August 06,201827 Months7.10%7.60%August 06,201836 Months7.10%7.60%August 06,201839 Months7.10%7.60%August 06,201848
Months7.10%7.60%August 06,201860 Months7.10%7.60%August 06,201890 Months6.00%6.50%Jan 06,2017120 Months6.00%6.50%Jan 06,2017Recurring
months6.25%6.75%12 months6.6%7.1%15 months6.75%7.25%18 months6.75%7.25%21 months6.75%7.25%24 months6.75%7.25%27 months7%7.5%30
on recurring deposits are offered by small finance banks
Their interest rates on savings, fixed and recurring deposits are usually higher than their larger peers as well as post offices.
