What is Recurring Deposit?
- Recurring deposit is a tool for investment in which people invest money and in return they get interest as a profit. It is offered by lots of bank in india and other financial institution. Recurring deposit also called RD is trustworthy among people of India.
- It is most famous investment option among the people of India. They are very much dependent on these types of investment for their future. Bank offer RD for different time period. You have to choose time period and invest fixed amount in recurring basis. It could be a day or month or year.
- Different Banks in India offer RD. You need to know which bank is giving what recurring deposit interest rate. So here we are with the different banks with their interest rates. You can choose best interest rate option for you. Compare the RD interest rate offered by different bank and choose top recurring deposit interest rate.
Recurring Deposit Offered by Banks
|BANK NAME||For General Citizen||For Senior Citizen|
|SBI Recurring Deposit||6.60% – 7%||7.10%-7.50%|
|BOI Recurring Deposit||6%-6.30%||6.50%-6.80%|
|PNB Recurring Deposit||4.50%-6.30%||5% – 6.80%|
|HDFC Bank Recurring Deposit||5.65%- 7%||6.15% – 7.50%|
|ICICI Bank Recurring Deposit||5.25% – 6.40%||5.75 % – 6.90%|
|AXIS BANK Recurring Deposit||5.80% – 6.50%||6.05% – 7.15%|
|CANARA BANK Recurring Deposit||5.50% – 6.40%||6.45% – 6.90%|
|Kotak Mahindra Bank RD||5.50% – 5.90%||6.00%- 6.40%|
|Allahabad Bank RD||6.25% – 6.45%||6.25%- 6.45%|
|IDBI BANK Recurring Deposit||5.75%- 5.90%||6.25% – 6.40%|
|FEDERAL BANK RD||3.50%- 6.50%||4.00%-6.50%|
|Union Bank of INDIA RD||5.50%- 5.75%||5.50%- 5.75%|
|UNITED BANK RD||4.00%- 6.25%||4.5%- 6.75%|
Note- The Recurring Deposit interest rate given here is the best of our knowlege. It is just for information purpose. Data collected souce is from internet. There may be some changes in the interest rate. You may please contact respective bank for actual interest rate value. For any mistake in the data given b4invests.com may not be responsible.
Is it beneficial to choose recurring deposit?
Recurring deposit give you very good option to invest your money in a safe institution. If you are not in a mood to take any risk in your investment you can blindly choose RD. It will surely benefit you. In India people are very much dependent on this investment they love to invest money in RD for their future goal. It give them secured investment option which no other policy provide them.
Why RD not SIP?
Most of the people in India come from middle class family. They work as a govt. service of various private sector or do small bussiness. Their earning are limited. Most of the Indians are single earning member in a family. For each and every future goal like child education, daughter marriage, retirement plan, house etc. They are very much dependent on their saving. So you can’t take risk if your income is limited because you are single earning member in a family. If by mistake you choose wrong fund or your fund don’t do well. You will unable to fulfil your goal.