Sbi Recurring Deposit Interest Rate

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1. Sbi Rd
2. Sbi Recurring Deposit Interest Rate In Hdfc Bank

Recurring deposit rates in SBI and post office: -For the general public, RD interest rates in SBI currently vary between 5 -5.4 percent. Senior citizens get an additional interest of 50 basis. STATE BANK OF INDIA RD calculator online - Calculate STATE BANK OF INDIA RD Interest rate using STATE BANK OF INDIA Recurring Deposit calculator 2021. Check STATE BANK OF INDIA RD rate of interest and calculate RD final amount via STATE BANK OF INDIA RD Calculator on The Economic Times. Feb 22, 2021 Currently, SBI gives a 2.9 percent to 5.40 percent interest rate on deposits maturing in seven days to 10 years. These rates are effective from January 8. The rate of interest as applicable to the. Country's top lender, State Bank of India (SBI), has cut interest rates on recurring deposits (RDs) in select buckets effectively 10th October. SBI RD has terms ranging from 1 year to 10 years.

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Recurring deposit Content

Recurring Deposit
Regular small savings to build up a fund

Recurring Deposit allows you to invest a fixed amount ranging from minimum LKR 1,000/ per month to maximum LKR 25,000/- per month (in multiples of LKR 1,000/-) at monthly intervals for building up an amount at the end of the term to fulfill your dreams.

12 / 24 months.

Sbi Rd

• Resident Individuals (Sri Lankan, Indian & Other Nationals) of 18 years of age & above.
• Single or in Joint names with other individuals.

• Card rates on Fixed deposits.
• Please refer ‘interest rates’ link under ‘Quick links’ for latest interest rates.

• High safety & security of your funds.
• Free Nomination facility.

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Just like fixed deposits or FD that have fixed interest rates and tenure, banks offer another type of term deposit known as a recurring deposit (RD) where a specified amount can be deposited at pre-decided intervals.

The instalment amount once fixed, cannot be altered. Customers can open an RD account in any bank or the post office.

Recurring deposit rates in SBI and post office:

-For the general public, RD interest rates in SBI currently vary between 5 -5.4 percent. Senior citizens get an additional interest of 50 basis points. These rates are effective from January 8, 2021. RD interest rates in Post Office are at 5.8 percent per annum, compounding quarterly. These rates are effective from January 1, 2021.

-Maturity of SBI recurring deposits ranging from 1 year to 10 years and Post Office RDs have a tenure of 5 years only.

-Through cheque/cash, an SBI RD account can be opened. However, cash is the only way through which D account in a Post Office can be opened.

-Through net banking facility, SBI RD account can be opened online. Post Office branch has to be visited for opening a post office RD account.

-Customers are required to make monthly deposits of a minimum of Rs 100 and in multiples of Rs 10 in SBI RD account. There is no maximum limit on the deposits. The minimum amount required for opening a Post Office RD is Rs 10 per month or any amount in multiples of Rs 5. However, there is no maximum limit on investment.

-5-year RD rate for Post Office had been decided by the government and the interest rates vary from tenure to tenure for SBI.

Here are the SBI recurring deposit rates

Here are the 5-year Post Office recurring deposit account (RD)

Sbi Recurring Deposit Interest Rate In Hdfc Bank

5.8​ percent per annum (quarterly compounded)