Are you searching for the RD Interest Rates? Get the 2017 Recurring Deposit Interest Rates here. You can find the latest RD Rates of all banks on this page. Compare the difference between them and choose the best Interest rate. Read the full article to know more details about Recurring Deposit Interest Rates.
Recurring Deposit Rates
RD Means Recurring Deposit. It is slightly similar to the Fixed Deposit. Many people are using Recurring Deposit for saving the money. The users have to know the tenure periods and interest rates before investing the money in banks. In Recurring Deposit the people have to deposit some amount of money monthly without any leave. You can also attach your RD account to your Salary Account. There are many advantages and benefits for RD Account. So, to receive those offers, you have to open a new RD account now.
Everyone should know the interest rates and tenure period of RD. We are providing the list of all banks interest rates along with the tenure period. Therefore, you can check the table to know the Recurring deposit interest rates. We are also providing the types of interest and RD affecting factors on this page. Hence, follow the below sections carefully to know those details.
RD Interest Rates
|Name of the Bank||Interest rate
|Allahabad Bank RD Interest Rates||6.5% to 7%||6.5% to 7%|
|Andhra Bank RD Interest Rate||6.75% to 7.15%||7.25% to 7.65%|
|Axis Bank RD Interest Rates||6.75% to 7%||7.25% to 7.5%|
|Bandhan Bank RD Interest Rates||7.5% to 8.25%||8% to 8.75%|
|Bank of Baroda RD Interest Rate||4.5% to 7%||5% to 7.5%|
|Bank of India RD Interest Rates||6.90% to 7.10%||6.90% to 7.10%|
|Bank of Maharashtra RD Interest Rate||6% to 6.25%||6.5% to 6.75%|
|Bharatiya Mahila Bank RD Interest Rates||7% to 7.25%||7.5% to 7.75%|
|Canara Bank RD Interest Rates||6.9% to 7.25%||7.4% to 7.75%|
|Central Bank of India RD Interest Rate||4% to 7%||4.5% to 7.5%|
|CitiBank RD Interest Rate||5.25%||5.25%|
|City Union Bank RD Interest Rates||6.7% to 7.1%||6.95% to 7.5%|
|Corporation Bank RD Interest Rates||6.9% to 7%||7.4% to 7.5%|
|DBS Bank RD Interest Rate||6% to 7.5%||6% to 7.5%|
|Dena Bank RD Interest Rate||6.5% to 7%||6.5% to 7%|
|Deutsche Bank RD Interest Rates||6% to 7.75%||6.5% to 8%|
|Dhanalakshmi Bank RD Interest Rates||6.5% to 6.75%||7% to 7.25%|
|DHFL Bank RD Interest Rate||8.3%||8.3%|
|Federal Bank RD Interest Rates||7% to 7.35%||7.5% to 7.85%|
|HDFC Bank RD Interest Rates||6.25% to 6.95%||6.75% to 7.45%|
|ICICI Bank RD Interest Rate||6.25% to 7.10%||6.75% to 7.60%|
|IDBI Bank RD Interest Rates||4.25% to 6.9%||4.25% to 7.4%|
More Recurring Deposit Interest Rates
|Indian Bank RD Interest Rate||6% to 6.75%||6.5% to 7.25%|
|Indian Overseas Bank RD Interest Rate||5.75% to 7.25%||6.25% to 7.75%|
|Induslnd Bank RD Interest Rates||6.75% to 7.15%||7.25% to 7.65%|
|Jammu and Kashmir Bank RD Interest Rates||7% to 7.25%||7% to 7.25%|
|Karnataka Bank RD Interest Rate||6.5% to 7.15%||7% to 7.65%|
|Karur Vysya Bank RD Interest Rate||7%||7.5%|
|Kotak Mahindra Bank RD Interest Rates||6.25% to 6.75%||6.75% to 7.25%|
|Lakshmi Vilas Bank RD Interest Rates||7%||7%|
|Nainital Bank RD Interest Rate||7.50% to 7.90%||8.00% to 8.40%|
|Oriental Bank of Commerce RD Interest Rates||6.5% to 7%||6.5% to 7%|
|Post Office RD Interest Rate||7.30%||7.30%|
|Punjab and Sind Bank RD Interest Rate||6.7% to 7%||7.2% to 7.5%|
|Punjab National Bank RD Interest Rates||6.8% to 7.2%||7.3% to 7.7%|
|Saraswat Bank RD Interest Rates||7.15% to 7.25%||7.4% to 7.5%|
|South India Bank RD Interest Rate||6.5% to 7%||7% to 7.5%|
|State Bank of Bikaner and Jaipur RD Interest Rates||6.5% to 6.95%||7% to 7.45%|
|State Bank of Hyderabad RD Interest Rates||5.5% to 7%||5.5% to 7%|
|State Bank of India RD Interest Rate||6.5% to 6.95%||7% to 7.45%|
|State Bank of Mysore RD Interest Rates||6.5% to 7%||7% to 7.5%|
|State Bank of Travancore RD Interest Rates||6.5% to 6.95%||7% to 7.45%|
|Syndicate Bank RD Interest Rate||6% to 6.8%||6% to 6.8%|
|Tamilnad Mercantile Bank RD Interest Rates||5% to 7%||7% to 7.5%|
|UCO Bank RD Interest Rates||6.75% to 7%||6.75% to 7%|
|Union Bank of India RD Interest Rate||6.8% to 7%||6.8% to 7%|
|United Bank of India RD Interest Rates||5.75% to 6.75%||5.75% to 7.25%|
|Vijaya Bank RD Interest Rates||6.25% to 6.5%||6.75% to 7%|
|Yes Bank RD Interest Rate||6.75% to 7.10%||7.25% to 7.6%|
Types of RD Interest Rates
The users who are searching for Recurring Deposit interest rates can see the above table. We had given all banks interest rates in the mentioned table. Therefore, the individuals can select the best bank which offers the high-interest rate. In Recurring Deposit there are many types. They are given in the below sections. Therefore, the people who are interested to know the types of RD have to follow the below points carefully.
- Indian Citizens who are having above 18 years are eligible for Recurring Deposit.
- You have to choose some amount for saving money in RD account monthly.
- The tenure period starts from 6 months to 10 years.
- The interest rate depends on the simple interest and compound interest.
- After the completion of the tenure period, you can withdrawal the maturity amount.
- You can also deposit Rs.10 per month in the recurring deposit.
- The RD Interest Rates for regular deposits is 7% to 8% per annum.
- Many banks are offering recurring deposits for kids also.
- Children’s parents or guardians can open a recurring deposit account for their education and other needs.
- The interest rates for junior Recurring Deposit is equivalent to regular interest rate or higher to encourage the children.
Senior Citizens Recurring Deposit
- Almost many banks are offering high-interest rates for senior citizens.
- The interest rate is 0.50% higher than the regular depositors.
- The actual interest is between 7.5% to 9.25% per annum.
- There are many schemes available for senior citizens.
NRE & NRO Recurring Deposit
- NRO’s and NRE’s are also eligible for recurring deposit.
- The interest rate is low compared to regular depositors and senior citizens.
- The NRO and NRE who hold the senior citizen’s account will not receive any additional interest rates.
- The interest rate is 7.50% per annum.
Special Recurring Deposit
- Banks are offering different schemes for a variety of people according to their needs and capabilities.
- Generally, these schemes have high-interest rates to reach your goal.
- Some recurring deposit schemes come with free life insurance.
- In special RD Schemes, without breaking the full amount you can withdraw the money in small parts.
- Some other schemes give you a larger lump sum amount at the time of the maturity.
Factors effecting the Recurring Deposit
Many people do not know the affecting factors of Recurring Deposit. For the sake of the people, we are proving some affecting facts of RD in the below sections. Therefore, the users can get an idea about those factors. So, read the points carefully.
Type of Account
- The interest rate depends on the account type.
- Regular depositors get more interest than NRO and NRE.
- Some banks offer same interest rates for all kinds of depositors.
- In Recurring Deposit, the most important factor is Tenure period.
- Compared with the other terms, the medium term has a higher interest rate.
- Some banks are offering higher interest rates on long-term deposits.
- In some banks, the interest rate is same for the minimum tenure period and maximum tenure period.
- Among all banks, the interest rate is high for senior citizens.
- The interest rate is 0.5% higher than the remaining deposits.
- Junior RD accounts also have high-interest rates.
- Depending on the bank, the interest rate varies.
Choice of Bank
- From the list of top banks, the higher interest rate is 7% per annum.
- In nationalized banks, the highest interest rate is 8% per annum.
- The users have to choose a bank which is having the high-interest rates.
Offers on Schemes
- Many banks are offering different RD schemes for the people.
- The interest rate may vary according to the Recurring Deposit’s scheme and benefits.
- The highest interest rates on this schemes are 9.25% per annum.
RD Interest Rates – Benefits
There are many benefits and advantages on recurring deposit. Some of them are given below. Therefore, you can check the benefits of RD from them.
- There are no risk factors in Recurring Deposit. So, select a famous and secure bank and check the RD Interest Rates for saving your money in Recurring Deposit.
Earn while you See
- The RD Interest Rates depends on the tenure period. Invest some amount of money for a long period. Therefore, you will get more money at the time of maturity.
Lump sum payout
- Lump sum means a large amount. Usually, people invest some small amount of money for depositing on the Recurring Deposit account monthly. At the time of the maturity, you will receive a lump sum amount.
- Nowadays people are using internet banking for their needs. Many banks are offering net banking. So, you can select your tenure periods, RD Interest Rates at online by using the net banking.
- Banks are offering loans against RD accounts. Therefore, you can get 90% amount from your maturity money as a loan. Additionally, the banks are offering concessional interest rates on your loans.