Highest Recurring Deposit Interest Rates (2024)
Recurring Deposit Interest Rates for 1 Year (as on 2024)
| Bank | Interest Rate (p.a.) | Calculate |
|---|---|---|
| Indusind Bank | 7.75% | |
| Yes Bank | 7.50% | |
| Standard Chartered Bank | 7.25% | |
| Dcb Bank | 7.25% | |
| Tamilnad Mercantile Bank | 7.25% | |
| Bandhan Bank | 7.25% | |
| Kotak Mahindra Bank | 7.10% | |
| Jammu And Kashmir Bank | 7.10% | |
| Deustche Bank | 7.00% | |
| Canara Bank | 7.00% |
Recurring Deposit Interest Rates for 2 Years (as on 2024)
| Bank | Interest Rate (p.a.) | Calculate |
|---|---|---|
| Dcb Bank | 8.00% | |
| Indusind Bank | 7.75% | |
| Idfc First Bank | 7.75% | |
| Yes Bank | 7.75% | |
| Deustche Bank | 7.50% | |
| Laxmi Vilas Bank | 7.25% | |
| Standard Chartered Bank | 7.25% | |
| Federal Bank | 7.25% | |
| Bandhan Bank | 7.25% | |
| Icici Bank | 7.10% |
Recurring Deposit Interest Rates for 3 Years (as on 2024)
| Bank | Interest Rate (p.a.) | Calculate |
|---|---|---|
| Dcb Bank | 8.00% | |
| Deustche Bank | 7.75% | |
| Indusind Bank | 7.50% | |
| Bandhan Bank | 7.25% | |
| Dena Bank | 7.05% | |
| Vijaya Bank | 7.05% | |
| Bank Of Baroda | 7.05% | |
| Karur Vysya Bank | 7.00% | |
| Idfc First Bank | 7.00% | |
| Icici Bank | 7.00% |
Recurring Deposit Interest Rates for 4 Years (as on 2024)
| Bank | Interest Rate (p.a.) | Calculate |
|---|---|---|
| Dcb Bank | 7.75% | |
| Bandhan Bank | 7.25% | |
| Indusind Bank | 7.25% | |
| Axis Bank | 7.00% | |
| Idfc First Bank | 7.00% | |
| Icici Bank | 7.00% | |
| Hdfc Bank | 7.00% | |
| Deustche Bank | 7.00% | |
| Citi Bank | 7.00% | |
| Yes Bank | 7.00% |
Recurring Deposit Interest Rates for 5 Years (as on 2024)
| Bank | Interest Rate (p.a.) | Calculate |
|---|---|---|
| Dcb Bank | 7.75% | |
| Indusind Bank | 7.25% | |
| Deustche Bank | 7.25% | |
| Axis Bank | 7.00% | |
| Idfc First Bank | 7.00% | |
| Icici Bank | 7.00% | |
| Hdfc Bank | 7.00% | |
| Citi Bank | 7.00% | |
| Yes Bank | 7.00% | |
| Standard Chartered Bank | 6.75% |
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.