Best Recurring Deposit interest rates:Even small savings can bring great happiness in your life. In such a situation, it should never be ignored. When you have some money left after meeting your daily needs, you should think about investing it in a place that can give you better returns in the future. After meeting your expenses while working or earning from other work, you can invest the remaining portion in a scheme that gives better returns. Recurring Deposit i.e. RD is a popular option of such small savings scheme. There is a facility to invest a part of your savings every month in this account. Here you get interest on your deposited money as per the fixed rate.
RD account can be opened in any government or private bank. The facility to open RD account is also available in the post office. Like Fixed Deposit i.e. FD, RD is one of the popular investment options among investors. However, it is more convenient for investors. In FD schemes with different tenures where people have to invest a lump sum. Whereas in RD, there is a facility to invest money every month in small installments like SIP.
Also read: Digital FD: What is digital fixed deposit, for how much can an account be opened? Check every detail before investing money
After understanding the features of recurring deposit, if you are thinking of investing money in it to get better returns on your savings, then a list of all the banks has been shared here for your convenience. Details of RD for 1 to 3 years and the returns on it are also given in the list. After fulfilling the financial needs, you can check the RD rates of various banks to earn on the small amount left every month.
|
bank name |
Interest on 1 year RD |
Interest on 3 year RD |
|
State Bank Of India, SBI |
6.80% |
6.75% |
|
ICICI Bank |
6.70% |
7.20% |
|
HDFC Bank |
6.60% |
7.00% |
|
Kotak Mahindra Bank |
7.10% |
7.00% |
|
Axis Bank |
6.70% |
7.10% |
|
Bank of Baroda, BOB |
6.85% |
7.25% |
|
Punjab Nation Bank, PNB |
6.80% |
7.05% |
|
IDBI Bank |
6.80% |
6.50% |
|
Canara Bank |
6.85% |
6.80% |
|
Indian Bank |
6.10% |
6.25% |
|
Indian Overseas Bank |
6.90% |
6.50% |
|
Union Bank |
6.75% |
6.50% |
|
Yes Bank |
7.25% |
7.25% |
|
Bandhan Bank |
7.85% |
7.25% |
|
Bank of India, BOI |
6.80% |
6.50% |
|
Central Bank of India |
6.50% |
6.50% |
|
City Union Bank |
7.00% |
6.50% |
|
DBS Bank |
7.00% |
6.50% |
|
Federal Bank |
6.80% |
7.00% |
|
IndusInd Bank |
7.75% |
7.25% |
|
Karnataka Bank |
7.10% |
6.50% |
|
Karur Vysya Bank |
7.00% |
7.00% |
|
Punjab & Sind Bank |
6.20% |
6.00% |
|
South Indian Bank |
6.70% |
6.70% |
|
UCO Bank |
6.50% |
6.30% |
,Note: This list has been prepared by bankbazaar.com. Banks keep changing the rates of their investment options from time to time, in such a situation, investors are advised to understand the rates and conditions from the official website or branch of the concerned bank before investing money in the RD scheme of any bank.
Also read: FD Rates: Where is the highest interest available on FD of 1 to 3 years in November, check the list of banks before investing money.
