Highest Recurring Deposit Interest Rates (2023)

Recurring Deposit Interest Rates for 1 Year (as on 2023)

BankInterest Rate (p.a.)Calculate
Bandhan Bank 7.00%
Citi Bank6.75%
Dcb Bank 6.75%
Syndicate Bank6.50%
Canara Bank6.50%
South Indian Bank6.40%
Karnataka Bank 6.40%
United Bank Of India6.30%
Corporation Bank6.30%
Union Bank Of India6.30%

Recurring Deposit Interest Rates for 2 Years (as on 2023)

BankInterest Rate (p.a.)Calculate
Dcb Bank 7.50%
Bandhan Bank 7.00%
Indusind Bank7.00%
City Union Bank 7.00%
Deustche Bank6.75%
Yes Bank6.75%
Andhra Bank6.60%
Corporation Bank6.60%
Union Bank Of India6.60%
Laxmi Vilas Bank6.50%

Recurring Deposit Interest Rates for 3 Years (as on 2023)

BankInterest Rate (p.a.)Calculate
Dcb Bank 7.50%
Deustche Bank7.00%
City Union Bank 7.00%
Bandhan Bank 7.00%
Yes Bank6.75%
Indusind Bank6.75%
Corporation Bank6.70%
Union Bank Of India6.70%
Andhra Bank6.70%
Syndicate Bank6.50%

Recurring Deposit Interest Rates for 4 Years (as on 2023)

BankInterest Rate (p.a.)Calculate
Deustche Bank7.25%
Dcb Bank 7.25%
Bandhan Bank 7.00%
City Union Bank 6.90%
Yes Bank6.75%
Indusind Bank6.75%
Corporation Bank6.70%
Union Bank Of India6.70%
Andhra Bank6.70%
Canara Bank6.50%

Recurring Deposit Interest Rates for 5 Years (as on 2023)

BankInterest Rate (p.a.)Calculate
Dcb Bank 7.25%
Deustche Bank7.00%
Canara Bank7.00%
Syndicate Bank7.00%
City Union Bank 6.90%
Indusind Bank6.75%
Yes Bank6.75%
Corporation Bank6.70%
Union Bank Of India6.70%
Andhra Bank6.70%

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.