Bank Recurring Deposit or bank RD is an investment option which allows investors to make fixed regular monthly deposits for the long term. In an RD the individual is required to deposit fixed amount every month for a pre-defined period.
Bank RD offers same interest rate as offered by a Bank FD. The interest on bank RDs ranges between 7% and 9.50%. Banks offer higher interest on RDs made by Senior Citizens.
Co-operative Banks also offer bank RDs to their customers apart from Bank FDs offered by them. Whenever you want to start a bank RD, you will definitely be interested to search for the best RD to invest in. Following table shows Co-operative Banks Recurring Deposit Interest Rate (as on 19 Feb 2019).
You can make use of "Calculate" option to easily calculate the amount of interest earned and the maturity amount of your Bank RD.
Interest rate of bank RD keeps changing and also varies from bank to bank. The minimum amount and tenure is fixed by the bank. Banks offer RD for tenure ranging from 6 months to 10 years. Recurring Deposit Interest Rates may differ for different tenures.