In this article you will find the interest rates provided by major banks in India on the recurring deposit (RD) facility provided by them.

These interest rates are as on last updated by the respective websites.

Below are the interest rates offered by banks on RD’s for various durations:-

  • RD interest rates for tenure up to 2 years:-
Bank Name

6 Months

9 Months12 Months18 Months21 Months

24 Months

HDFC Bank

6.25%

6.75%7.25%7.25%7.25%

7.25%

ICICI Bank

6.00%

6.25%6.60%6.75%6.75%

6.75%

Axis Bank

6.00%

6.25%6.50%7.00%7.00%

7.00%

Kotak Mahindra Bank

7.25%7.25%7.25%

7.10%

IndusInd Bank

7.65%7.40%7.40%

7.25%

Yes Bank

6.70%

6.70%7.10%7.10%7.10%

7.10%

IDFC Bank

6.75%

7.00%7.25%7.25%7.25%

7.25%

State Bank of India

6.25%

6.40%6.90%6.70%6.70%

6.75%

Bank of Baroda

6.75%6.65%6.65%

6.65%

IDBI Bank

6.75%6.70%6.70%

6.70%

Central Bank Of India

6.50%

6.50%6.50%6.60%6.60%

6.60%

Indian Overseas Bank

5.50%

5.75%6.25%6.60%6.60%

6.60%

Citibank

6.25%7.00%6.00%

6.00%

Bandhan Bank

4.50%

6.80%7.00%7.30%7.30%

7.30%

DBS Bank

5.75%

6.10%7.00%7.00%7.00%

7.00%

  • RD interest rates for tenure from 2 years up to 10 years:-
Bank Name

27 Months

30 Months36 Months48 Months60 Months90 Months

120 Months

HDFC Bank

7.10%

7.10%7.10%7.10%7.10%6.00%

6.00%

ICICI Bank

7.00%

7.00%7.00%7.00%7.00%7.00%

7.00%

Axis Bank

7.00%

7.00%7.00%7.00%7.00%7.00%

7.00%

Kotak Mahindra Bank

7.10%

7.10%7.10%7.10%7.00%6.50%

6.50%

IndusInd Bank

7.25%

7.25%7.00%7.00%7.00%6.75%

6.75%

Yes Bank

7.10%

7.10%7.10%7.10%7.10%7.10%

7.10%

IDFC Bank

7.25%

7.25%7.25%7.20%7.20%7.20%

7.00%

State Bank of India

6.75%

6.75%6.80%6.80%6.85%6.85%

6.85%

Bank of Baroda

6.65%

6.65%6.65%6.65%6.65%6.40%

6.40%

IDBI Bank

6.70%

6.70%6.70%6.75%6.75%6.00%

6.00%

Central Bank Of India

6.50%

6.50%6.50%6.50%6.50%6.50%

6.50%

Indian Overseas Bank

6.75%

6.75%6.75%6.80%6.80%6.80%

6.80%

Citibank

Bandhan Bank

7.40%

7.40%7.40%7.40%7.40%6.40%

6.40%

DBS Bank

7.00%

7.50%7.00%7.00%7.50%

Notes:-

  • Kotak Mahindra Bank, IndusInd bank, Bank of Baroda, IDBI Bank and Citibank provide RD’s with minimum tenure of 1 year.
  • Citibank provides RD’s with maximum tenure of 2 years.
  • DBS Bank provides RD”s with maximum tenure of 5 years.
  • All the banks mentioned above offer 50% extra interest rates for senior citizens.
  • Only Bandhan Bank offers 0.75% extra interest rates for senior citizens. And Axis Bank provides variable higher interest rates for senior citizens.

Summary:-

  • Bandhan Bank provides the highest interest rates on RD’s for maximum tenures. Bandhan bank has recently got listed.
  • HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, Yes Bank, DBS Bank and IDFC Bank also provide high and competitive interest rates on RD’, a little lower than Bandhan Bank.