INSUBCONTINENT EXCLUSIVE:
However, small finance banks generally offer higher interest rates as compared to many leading banksICICI Bank recently revised its
recurring deposits interest rates
Recurring Deposit or RD is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates
On maturity, the depositor is paid a lump-sum amount which includes his/her 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 ICICI Bank, HDFC Bank and State Bank of India (SBI):ICICI BankRecurring deposit rates offered by ICICI
Bank:Rate of Interest (% p.a.) w.e.f November 15, 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 upto 5
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
of IndiaRD interest rates according to the bank's website - sbi.co.in:Maturity period (term)Interest rate with effect from July 30,
2018General publicSenior citizen7 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
