Recurring deposit (RD) interest rates 2024: Recurring deposit (RD), like fixed deposit (FD), offers interest rates based on tenure and age. If you are a senior citizen, the interest rate would be higher. The interest rate on an FD and an RD is almost similar. Usually, both offer 50 basis points (bps) higher interest rate to senior citizens.
SBI Recurring Deposit (RD) latest interest rates
SBI offers Recurring deposits at interest rates of 6.50% to 7% p.a. to other depositors, and 7.35% to 7.5% to senior citizens with a minimum monthly deposit of ₹100. The tenure for SBI RD ranges from 1 year to 10 years. These rates are effective from December 27, 2023.
1 Year to less than 2 years 6.80%
2 years to less than 3 years 7.00%
3 years to less than 5 years 6.50%
5 years and up to 10 years 6.50%
HDFC Recurring Deposit (RD) latest interest rates
RD interest rates in HDFC range from 4.50% to 7% per annum to general and 5% to 7.75% for senior citizens One can open an HDFC recurring deposit account with a minimum deposit of ₹1,000 with tenures ranging from 6 months to 10 years. These rates are effective from January 24, 2023.
6 Months 4.50%
9 Months 5.75%
12 Months 6.60%
15 Months 7.10%
24 Months 7.00%
27 Months 7.00%
36 Months 7.00%
39 Months 7.00%
48 Months 7.00%
60 Months 7.00%
90 Months 7.00%
120 Months 7.00%
ICICI Bank Recurring Deposit (RD) latest Interest Rates
ICICI provides two types of recurring deposits, i.e. RD for regular citizens which offers an interest of 4.75 % to 7.10%, and RD for senior citizens which offers 5.25% to 7.60% for senior citizens. The investment tenure ranges between 6 months to 10 years and the minimum amount needed is ₹500. These rates are effective from 24 February 2023.
6 months 4.75%
9 months 6.00%
12 months 6.70%
15 months 7.10%
18 months 7.10%
21 months 7.10%
24 months 7.10%
27 months 7.00%
30 months 7.00%
33 months 7.00%
36 months 7.00%
Above 3 years upto 5 years 7.00%
Above 5 years upto 10 years 6.90%
FAQs
HDFC Bank is offering up to 7.75 per cent interest rates on FD, depending upon deposit tenure and depositor's age. ICICI Bank is offering FD rates up to 7.60 per cent annually and SBI is giving up to 7.50 per cent a year.
What is the interest rate of HDFC vs Icici vs SBI FD? ›
HDFC Bank is offering up to 7.75 per cent interest rates on FD, depending upon deposit tenure and depositor's age. ICICI Bank is offering FD rates up to 7.60 per cent annually and SBI is giving up to 7.50 per cent a year.
Which bank has the highest RD interest rates in 2024? ›
Highest RD Interest Rates 2024
Bank Name | Normal Interest Rate | Senior Citizen Interest Rate |
---|
State Bank of India | 7.00% | 7.50% |
IDBI Bank | 6.80% | 7.30% |
Axis Bank | 7.10% | 7.85% |
HDFC Bank | 7.10% | 7.60% |
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Which is better for RD HDFC or SBI? ›
Post Office RD vs SBI RD vs HDFC Bank RD
SBI offers an interest rate ranging from 5.75%-7% on RDs maturing in one year to ten years. These rates are effective from February 15, 2023. HDFC Bank offers an interest rate ranging from 4.50%-7% on RDs maturing in six months to ten years.
What is the interest rate for Recurring Deposit in ICICI Bank? ›
Rates are subject to change as per the bank's discretion. ICICI Bank Recurring Deposit (RD) interest rates are 4.75%-7.20% p.a. for the general public and 5.25%-7.75% p.a. for senior citizens on tenures ranging from 6 months to 10 years.
Why HDFC is better than ICICI? ›
Also, on the yield front, HDFC Bank has superior access against ICICI Bank on unsecured retail & SME/MSME loans front amid a wider branch network and improved rural/semi-urban reach, it said.
Which bank has the highest FD rate in 2024? ›
Which bank gives the highest interest rate on FD? As of 2024, Canara Bank offers the highest interest rate of 7.25% for 444 days.
Which bank is best for RD interest rate? ›
Major Bank's Best RD Interest Rates 2024
Bank | General Interest Rates | Senior Citizen Interest Rates |
---|
IDFC First Bank | 6.75% – 7.25% | 6.75% – 7.25% |
PNB | 4.40% – 5.30% | 4.90% – 6.05% |
IDBI Bank | 7.00% – 7.15% | 7.50% –7.65% |
Citibank | 2.75% – 3.00% | 3.25% – 4.00% |
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Is HDFC or SBI better? ›
However, for long-term investors, HDFC Bank is the more attractive option. While both banks are excellent value picks, HDFC Bank excels in quality, with significantly higher scores. This is reflected in its superior stability ratios, making it a more reliable and robust investment over time.
What is the current RD interest rate in SBI? ›
SBI RD Interest Rates 2024 (Below Rs. 2 Crore)
Tenure | RD Rates for General Citizens | RD Rates Senior Citizen |
---|
1 year – 1 year 364 days | 6.80% | 7.30% |
2 years – 2 years 364 days | 7.00% | 7.50% |
3 years – 4 years 364 days | 6.50% | 7.00% |
5 years – 10 years | 6.50% | 7.00% |
HDFC RD Interest Rates 2024
Tenure | RD Rates for General Citizens | RD Rates for Senior Citizens |
---|
12 Months | 6.60% | 7.10% |
15 Months | 7.10% | 7.60% |
24 Months | 7.00% | 7.50% |
27 Months | 7.00% | 7.50% |
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Which is better FD or RD in ICICI Bank? ›
Therefore, we can see that while both serve as excellent savings options, Fixed Deposits tend to edge out with greater benefits. Fixed Deposit accounts offer more flexibility with their range of tenure, provide higher returns and are ideal for anyone seeking to invest any amount of money for a given period of time.
How much is 5000 per month in RD for 5 years? ›
How much for 5000 per month RD for 5 years? if you are starting a RD account for 5 years with a monthly contribution of Rs.5000 and the applicable interest rate is 7%, then after 5 years you will receive Rs.3,59,663 as a maturity amount.
What is the rate of interest on FD in SBI and HDFC Bank? ›
Fixed Deposit Interest Rates Comparison 2024
Name | Interest rate (p.a.) | Min. deposit |
---|
This FD SBI Bank | 3.50% - 7.60% | ₹ 1,000 |
ICICI Bank | 3.00% - 7.80% | ₹ 10,000 |
Axis Bank | 3.00% - 7.85% | ₹ 5,000 |
HDFC Bank | 3.00% - 7.90% | ₹ 5,000 |
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What is the interest rate of FD in SBI and ICICI Bank? ›
ICICI Bank offers fixed deposit rates ranging from 3% to 7.20% for general customers across various tenures, from 7 days to 10 years. For senior citizens, SBI provides an additional 0.50% interest on these rates for all deposit tenures.
What is the interest rate difference between HDFC and SBI? ›
HDFC Bank: The largest private lender offers interest rate on its home loan in the range of 9.4 to 9.95 percent per annum. SBI: State Bank of India charges rate of interest that hovers in the range of 9.15 percent to 9.75 percent based on the borrower's CIBIL score. These rates came into effect on May 1, 2023.
Which bank in India gives highest interest on FD? ›
Highest FD Rates of Top Banks in 2024
Bank Name | FD Interest Rates for General Citizens (in % p.a.) |
---|
Bank of Baroda | 4.25% - 7.25% |
Suryoday Small Finance Bank | 4.00% - 8.65% |
ESAF Small Finance Bank | 4.00% - 8.25% |
Canara Bank | 4.00% - 7.25% |
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