INSUBCONTINENT EXCLUSIVE:
Recurring deposit accounts with post offices fetch an interest rate of 6.9% per annum.
Recurring deposit (RD) accounts offer interest rates similar to those on fixed deposit (FD)
The benefit of opening a recurring deposit is that your money does not get blocked until fixed periods of time like in FDs
RDs require customers to make monthly deposits with banks, based on which RDs generate interest income for their customers
Thus, RDs provide an opportunity to customers build up savings through regular monthly deposits of a fixed sum over a period of time.Given
below are interest rates on recurring deposit (RD) accounts offered by State Bank of India (SBI), ICICI Bank, HDFC Bank and post
officesRecurring deposit (RD) interest rates offered by SBIAll figures in % per annum on deposits of less than Rs 1 crore according to SBI
28.02.2018Revised For Public w.e.f
28.03.2018Existing for Senior Citizens w.e.f
28.02.2018Revised for Senior Citizens w.e.f
28.03.20187 days to 45 days5.755.756.256.2546 days to 179 days6.256.256.756.75180 days to 210 days6.356.356.856.85211 days to less than 1
year6.46.46.96.91 year to less than 2 year6.46.46.96.92 years to less than 3 years6.56.677.13 years to less than 5 years6.56.777.25 years
and up to 10 years6.56.7577.25(: Features, conditions of SBI Recurring Deposits)Recurring deposit (RD) interest rates offered by ICICI Bank
months6.67.115 months6.757.2518 months6.757.2521 months6.757.2524 months6.757.2527 months6.5730 months6.5733 months6.5736 months6.57Above 3
days5.75%6.25%61 - 90 days5.75%6.25%91 days - 6 months5.75%6.25%6 mnths 1 day- 6 mnths 3 days6.00%6.50%6 mnths 4 days6.00%6.50%6 mnths 5
days- 9 mnths6.00%6.50%9 mnths 1 day- 9 mnths 3 days6.00%6.50%9 mnths 4 days6.00%6.50%9 months 5 days - 9 months 15 days6.00%6.50%9 months
16 days6.25%6.75%9 months 17 days < 1 Year6.25%6.75%1 Year6.85%7.35%1 year 1 day - 1 year 3 days6.50%7.00%1 year 4 days6.25%6.75%1 year 5
Years6.00%6.50%Recurring deposit (RD) interest rates offered by post officesRecurring deposit accounts with post offices fetch an interest
rate of 6.9 per cent per annum
This interest is compounded quarterly, said India Post on its website, indiapost.gov.in
Thus, a Rs 10 deposit in an RD account fetches Rs 717.4?3 on maturity
RDs can be continued for another five years on a year-to-year basis.
