Interest Rates of Recurring Deposit of Major Banks August 2018
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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.
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 Months | 12 Months | 18 Months | 21 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 Months | 36 Months | 48 Months | 60 Months | 90 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.
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