Highest Recurring Deposit Interest Rates (2022)

Recurring Deposit Interest Rates for 1 Year (as on 2022)

The highest interest rate is offered by North East Small Finance Bank Limited (for 12 months) at 7.5% and Utkarsh Small Finance Bank (for 12 months) at 7.25% followed by Suryoday Small Finance Bank (for 12 months) at 7.25%.

BankInterest Rate (p.a.)Calculate
Indusind Bank6.00%
Yes Bank6.00%
Dcb Bank 5.55%
Bandhan Bank 5.50%
Tamilnad Mercantile Bank 5.50%
Standard Chartered Bank5.30%
South Indian Bank5.20%
Karur Vysya Bank5.15%
Indian Overseas Bank5.15%
Dhanalakshmi Bank5.15%

Recurring Deposit Interest Rates for 2 Years (as on 2022)

The highest interest rate is offered by North East Small Finance Bank Limited (for 2 years) at 8.00% and Utkarsh Small Finance Bank (for 2 years) at 7.25% followed by Suryoday Small Finance Bank (for 2 years) at 7.25%.

BankInterest Rate (p.a.)Calculate
Indusind Bank6.00%
Yes Bank6.00%
Dcb Bank 5.50%
Tamilnad Mercantile Bank 5.50%
Bandhan Bank 5.50%
Standard Chartered Bank5.40%
Axis Bank5.40%
South Indian Bank5.35%
The Nainital Bank 5.35%
Federal Bank5.35%

Recurring Deposit Interest Rates for 3 Years (as on 2022)

The highest interest rate is offered by Suryoday Small Finance Bank (for 3 years) at 8.10% and North East Small Finance Bank Limited (for 3 years) at 8.00% followed by RBL Bank Limited (for 3 years) at 7.25%.

BankInterest Rate (p.a.)Calculate
Yes Bank6.25%
Indusind Bank6.00%
Dcb Bank 5.95%
Laxmi Vilas Bank5.65%
South Indian Bank5.50%
Karnataka Bank 5.40%
Idbi Bank5.40%
Axis Bank5.40%
Standard Chartered Bank5.35%
Federal Bank5.35%

Recurring Deposit Interest Rates for 4 Years (as on 2022)

The highest interest rate is offered by Suryoday Small Finance Bank (for 4 years) at 7.75% and Fincare Small Finance Bank Ltd (for 4 years) at 7.30% followed by Utkarsh Small Finance Bank (for 4 years) at 7.25%.

BankInterest Rate (p.a.)Calculate
Yes Bank6.25%
Indusind Bank6.00%
Dcb Bank 5.95%
Laxmi Vilas Bank5.65%
South Indian Bank5.50%
Karnataka Bank 5.40%
Idbi Bank5.40%
Standard Chartered Bank5.40%
Dhanalakshmi Bank5.40%
Corporation Bank5.40%

Recurring Deposit Interest Rates for 5 Years (as on 2022)

The highest interest rate is offered by Suryoday Small Finance Bank (for 5 years) at 8.25% and Utkarsh Small Finance Bank (for 5 years) at 7.25% followed by DCB Bank Limited (for 5 years) at 6.95%.

BankInterest Rate (p.a.)Calculate
Deustche Bank6.25%
Yes Bank6.25%
Indusind Bank6.00%
Dcb Bank 5.95%
Axis Bank5.75%
Laxmi Vilas Bank5.75%
South Indian Bank5.65%
Federal Bank5.60%
Karur Vysya Bank5.60%
Catholic Syrian Bank 5.50%

Recurring Account Key Features

  • One of the best way of investment of your savings which is offered by almost all the banks in India.
  • It facilitates small savings with flexible amounts and tenures.
  • It inculcates a regular habit of saving for future needs.
  • It is available from minimum of 6 months to a maximum of 10 years with monthly instalments of 12, 24, 36, 48, 60, 72, 84, 96, 108 and 120 months.
  • It can be opened for monthly instalments of Rs 100 and thereafter, in multiples of Rs 100.
  • Once the RD account becomes active, the customer can not change the amount of the installment or the tenure.
  • Standing instruction for transferring the monthly instalments from the customer's SB / CA account is accepted.
  • Very popular among the salaried class persons.
  • Best for those who can afford to save only a few thousand rupees per month.
  • Almost all the banks do quarterly compounding in case of RD.
  • On maturity date, the RD holder is paid the maturity value i.e. the principal and the interest earned.
  • RD accounts can be prematurely closed and banks generally deduct some penalty as per the clauses of the bank.
  • Partial withdrawals are not allowed.
  • A penalty is levied upon a delayed payment or missing installment.
  • Some banks have a loan facility against the RD on pledging the RD as collateral.
  • Nomination facaility is available.