• Which Banks offer the Highest Recurring Deposit Interest Rates in India?

    Recurring Deposit is the most popular options for the risk averse investors. In a recurring deposit scheme, investors will have to make deposits of a fixed amount each month for a fixed tenure. The investment amount will earn interest which will be returned to the customer after maturity. Recurring deposit will help you make disciplined investments and is an easy way to get safe and good returns on your money.

    How is the Interest for a Recurring Deposit Scheme Calculated?

    The interest rate for a recurring deposit scheme is calculated based on various factors like the money that your deposit every month, the tenure and the RD scheme that you choose. Generally, the interest rate for RD is the highest when you invest for a period varying between 15 months to 24 months. Also, higher interest rates are offered for women and senior citizens by select banks for Recurring Deposit accounts. You can use an online Recurring Deposit Calculator to find out the interest that you will accumulate for the given principal and tenure.

    Highest Recurring Deposit Interest Rates

    Based on the tenure, here are some of the banks that offer best interest rate for RD schemes.

    • Deutsche Bank and Nainital Bank offer an interest rate of 7.25% and 7.50% respectively for recurring deposits of over 5 years tenure.
    • For tenure of 1 year,Nainital Bank and DHFL Bank interest rates are 7.50% and 7.75%.
    • Nainital Bank offers an interest rate of 7.90% for RD scheme with 2 year tenure.
    • For durations of 3 to 4 years, the best interest is offered by Nainital Bank (7.75%), Lakshmi Vilas Bank (7.00%) and Karur Vysya Bank (7.00%).
    • The Recurring Deposit scheme offered by Post Office comes with an attractive interest rate of 7.10%.

    Best Recurring Deposit Scheme in India

    Here are some of the banks that offer very competitive Recurring Deposit schemes with attractive interest and other features.

    • Allahabad Bank

      Allahabad Bank offers an interest rate of 6.50% - 6.60% for tenures ranging from 180 Days to 2 years for Recurring Deposits.

    • ICICI Bank

      ICICI Bank has a flexible RD scheme called the iFlexi RD plan. The customer will incur no penalties for delayed monthly payments. The maximum interest rate that is offered for iFlexi RD is 7.10 per cent with tenure options from 13 months to 24 months.

    • HDFC Bank

      HDFC Bank offers a maximum interest rate at 6.95% for Recurring Deposit schemes. The tenure varies from 12 months to 120 months. One can invest a minimum amount of Rs 1000 and in multiples of 100 thereafter.

    • J&K Bank

      J&K Bank gives an attractive interest rate of 6.75% for period of 1 to 4 years RD schemes. For period of 5 Years and above, the bank offers an interest rate of 6.75%.

    • Axis Bank

      Axis Bank RD schemes come with an interest rate of 7.00% for a period of one year to less than 2 years. The recurring deposit can be started with minimum initial deposit amount of Rs 1000 and in multiples of Rs 500 thereafter.

    Interest Rates offered By Banks for Recurring Deposits

    Here is a list of interest rates offered for recurring deposit schemes by various banks. The interest rates for RD has been grouped according to the tenure and the bank. The interest rates are subject to frequent change, do enquire with the concerned bank before starting a RD account.

    * Rates as of Jan '18

    Recurring Deposit Interest Rates Bank wise
    Bank 1 Years 2 Years 3 Years 4 Years 5 Years 5+ Years
    Andhra Bank 6.50 6.50 6.25 6.25 6.25 6.25
    Allahabad Bank 6.50 6.60 6.50 6.50 6.50 6.50
    Axis Bank 6.75 6.25 6.25 6.25 6.25 6.25
    Bandhan bank 7.15 6.80 6.80 6.80 6.80 6.40
    Bank of Maharashtra 6.25 6.25 6.25 6.00 6.00 6.00
    Bank of Baroda 6.60 6.65 To 6.50 6.50 6.50 6.50 6.50
    Bank of India 6.25 6.60 6.50 6.30 6.25 6.25
    Canara Bank 6.50 6.30 6.20 6.20 6.00 6.00
    Central Bank of India 6.50 6.60 6.50 6.50 6.50 6.50
    City Union Bank 7.10 6.85 6.85 6.85 6.85 6.70
    Corporation Bank 6.25 6.50 6.50 6.50 6.50 6.50
    Citi Bank 5.00 5.00 5.00 5.00 5.00 5.00
    DBS Bank 6.30 6.40 6.50 6.60 6.70 6.70
    Dena Bank 6.50 6.50 6.25 6.25 6.30 6.30
    Deutsche Bank 6.00 6.75 6.75 7.00 7.00 7.25
    Dhanalakshmi Bank 6.00 6.60 6.50 6.50 6.50 6.50
    DHFL Bank 7.75 -- -- -- -- --
    Federal Bank 6.7 6.60 6.50 6.50 6.50 6.50
    HDFC Bank 6.75 6.25 6.00 6.00 6.00 6.00
    Post Office -- -- -- -- -- 7.10
    Indian Overseas Bank 6.25 -- 6.25 6.00 6.00 6.00
    ICICI Bank 6.75 6.75 6.50 6.50 6.50 6.50
    IDBI Bank 6.75 6.50 6.25 6.25 6.00 6.00
    Indian Bank 6.50 6.25 6.25 6.00 6.00 6.00
    Indusind Bank 6.85 6.50 to 6.75 6.50 6.50 6.50 6.50
    J&K Bank 6.25 6.75 6.50 6.25 6.25 6.25
    Karnataka Bank 6.50 6.85 6.50 6.50 6.50 6.50
    Karur Vysya Bank 6.75 6.75 7.00 7.00 7.00 7.00
    Kotak Mahindra Bank 6.60 6.75 6.50 6.25 6.25 6.00
    Lakshmi Vilas Bank 6.75 6.90 7.00 7.00 7.00 7.00
    Nainital Bank 7.50 7.90 7.75 7.75 7.50 7.50
    Oriental Bank of Commerce 6.75 6.85 6.50 6.50 6.50 6.50
    Punjab National Bank 6.60 6.50 6.50 6.25 6.25 6.25
    Punjab and Sind Bank 6.50 6.50 6.50 6.50 6.50 6.50
    Saraswat bank 6.35 6.35 6.40 6.40 6.40 6.40
    South Indian Bank 6.00 6.75 6.50 6.50 6.50 6.50
    State Bank of India 6.25 6.25 6.25 To 6.00 6.00 6.00 6.00
    Syndicate Bank 6.15 6.50 6.60 6.60 6.50 6.50
    Tamilnad Mercantile Bank Ltd 6.90 7.00 6.90 6.90 6.90 6.90
    UCO bank 6.50 6.50 6.40 6.25 6.25 6.25
    Union Bank of India 6.75 6.50 6.50 6.50 6.50 6.50
    United Bank Of India 6.10 6.00 6.00 6.00 6.00 6.00
    Vijaya Bank 6.50 6.60 6.50 6.50 6.50 6.25
    Yes Bank 6.75 6.75 6.75 6.75 6.75 6.75

    Read More Article on Recurring Deposit

    News About Best Recurring Deposit Interest Rates

    • Banks Cut Fixed Deposit Rates After Demonetisation

      Banks have witnessed an unbridled rush ever since the government decided to ban Rs.500 and Rs.1,000 notes in the country. With people lining up to deposit and exchange their old notes, banks have had a windfall of money, with reports estimating that over Rs.5,11,565 crore was collected in the week after the government announced demonetisation. This income has meant that banks can reduce the interest rates on fixed deposits, helping them amass more profits. Most banks have already reduced rates on fixed deposits by 25 to 50 basis points, which could have an impact on accountholders.

      Axis Bank reduced its FD rates to 7% for 1 year and 6.75% for 2/3 year deposits. Similarly, Punjab National Bank, Dena Bank, and Bank of Baroda also reduced their rates, bringing them down to 7% for 1 year. Syndicate Bank seems to be the best option now, thanks to a high interest of 7.3% for a one-year deposit. Even SBI cut the rates to 6.9% for 1 year deposits. A report by Deutsche Bank said that both private and public sector banks can make profits ranging between 5 and 15% post this increase in deposits, with the growth in deposits to be around 10% in the coming months.

      22 November, 2016

    Recurring Deposit - Sitemap

    RD Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Bank Recurring Deposit
      "Wonderful"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have the recurring deposit account with the ICICI bank and the interest rate is good. Online banking services are good one with the ICICI bank. I dont think about the interest rate and other aspects. Everything is better one with the ICICI bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • HDFC Bank Recurring Deposit
      "Hassle Free experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC recurring deposit interest rate is nominal, I opened account through online, their notification part is good. I make the monthly investment around Rs. 15000 for the tenure of 24 months. At last I got the return got credited in the account.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 15, 2018
    • ICICI Bank Recurring Deposit
      "Excellent"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am having the recurring deposit account with the ICICI bank. I am depositing rs 2,000 monthly. This policy I have takern for 25 years. The returns and policy benefits are very good. Customer service is very good.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 10, 2018
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      First time I opened RD in HDFC, but the return was less. They offered me the interest rate around 6.5%, Then I quite in amount, I activated this service through online and once cancel it the amount got credited in a month. The service is absolutely fine but interest rate is the concern.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 09, 2018
    • SBI Recurring Deposit
      "Good "
      STATE BANK OF INDIA
      0.5 4.5/5 "Excellent!"
      For more than five years of time, I am having the recurring deposit with the State bank of India and I have not found any loopholes with them. I would like to say that the online portal is good one for with the State bank of India.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 07, 2018
    • ICICI Bank Recurring Deposit
      "Best"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am having the recurring deposit account with the ICICI bank and the customer service is good one. I would like to say that the online banking services are also good one with the ICICI bank and I have not faced any such issues with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • SBI Recurring Deposit
      "Good"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have my salary account with State Bank of India. The customer service was okay. I am using this account for 20 years and It is a zero balance account. I use a domestic debit card. The daily withdrawal limit was happy. ATM services are convenient and good. They don't charge for IMPS and NEFT transfer.
      Was this review helpful? 0
      , raigarh
      Reviewed on Feb 06, 2018
    • SBI Recurring Deposit
      "Excellent"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I am having the recurring deposit account with the State bank of India and the customer service is good one. Response is fine one for me with them. I would like to say that the online portal is also really easy to access.
      Was this review helpful? 0
      , thane
      Reviewed on Feb 06, 2018
    • HDFC Bank Recurring Deposit
      "Best one"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I was having the recurring deposit with the HDFC bank on that time. Rate of interest was around 6.9% and the customer service was good. Penalty charges were around 1% of the interest rate charges on accumulated money.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 02, 2018
    • HDFC Bank Recurring Deposit
      "nice recurring deposit"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a Recurring deposit in Hdfc Bank. I got satisfied Interest rate in Recurring Deposit. I can monitor this Recurring Deposit Activities in my Hdfc Mobile Banking application. I can check the status of my deposit maturity status and interest certificate also.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 31, 2018
    • SBI Recurring Deposit
      "Good service"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have a Recurring Deposit with SBI from last 7-8 years, the experience was good so far and i did not face any issues with this bank. Customer support team gave all the right information and there was no delay in the services. I pay an amount of Rs 8000 every month and i get 9% interest on returns and i am satisfied with it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 23, 2018
    • IOB Recurring Deposit
      "Excellent banking"
      INDIAN OVERSEAS BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a Recurring deposit with Indian Overseas bank.I have been holding this account for last one year.I need not maintain any balance in this account as mandatory,this is on a cumulative basis.I have a good experience talking to the bankers.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 23, 2018
    • HDFC Bank Recurring Deposit
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a Recurring Deposit with HDFC bank 3 years back, the services are very good with this bank and i did not find any issues with this bank. I pay an amount of Rs 4200 every month and the maturity period is after 5 years. Customer service was good and they responded on time. I get interest of 9% which is sufficient and i am happy with the returns.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 19, 2018
    • ICICI Bank Recurring Deposit
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have a Recurring Deposit from ICICI bank from last 3 years, the services are pretty good when compared to all other banks. I pay an amount of Rs 1500 every month and the interest rate is satisfactory. Customer service is good and they responded on time. I am happy with the returns with this bank which is 9%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2018
    • Axis Bank Recurring Deposit
      "Recurring Deposit with AXIS"
      AXIS BANK
      0.5 4.5/5 "Excellent!"
      As I'm holding my salary account with AXIS Bank I decided to maintain a Recurring Deposit account with them. Now I have this account for the past 1 year. They offer me 7 to 8% interest. The funds were auto debited from my salary account to RD account. The interest rates can be improved. Their customer care service is pretty good although they don't bother much about customer satisfaction. Despite being a salary account holder for 2+yrs, they haven't offered me any credit card so far. I am only having their Neo card which is the most basic one. NOT COOL AXIS !!!!!
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • Union Bank of India Recurring Deposit
      "Good service"
      UNION BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      I had a Recurring Deposit with Union Bank of India and the experience was quite good. I pay an amount of Rs 3000 every month and in return i get a certain amount with the interest of 7.5% which is satisfactory. Customer service was fine and they responded on time. The maturity of the RD is 1 year and i am satisfied with the returns.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 12, 2018
    • HDFC Bank Recurring Deposit
      "Excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a Recurring Deposit with HDFC Bank. The maturity period is one year and it was taken for my daughter. I am paying 1000 rupees per month through net banking or cash. All the facilities are good with HDFC Bank. The customer service and response was very good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 04, 2018
    • Vijaya Bank Recurring Deposit
      "Good"
      VIJAYA BANK
      0.5 4.0/5 "Great!"
      I have taken Recurring Deposit account with Vijaya Bank. I am paying 20,000 rupees for 6 months. The interest rate was nominal compared to other bankers. The customer service and response was good. The premium amount was paid through ECS.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 02, 2018
    • HDFC Bank Recurring Deposit
      "Good"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a Recurring Deposit with HDFC Bank long back. Everything is renewed and reimbursed with them. I have chosen this bank, it was very easy to use the net banking and the interest rate was good. I have taken this account through online and I hardly visit the branch to exchange the foreign currency.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Recurring Deposit
      "Best "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I do have recurring deposit account with the HDFC bank and the response is fine one. I would like to say that the rate of interest is good one for me with the HDFC bank. Everything is fine one for me with the HDFC bank.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 22, 2017
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