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  • 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.

    • Lakshmi Vilas Bank and TamilNad Mercantile Bank offer an interest rate of 7.00% and 7.00% respectively for recurring deposits of over 5 years tenure.
    • For tenure of 1 year, Bandhan Bank and IndusInd Bank interest rates are 7.70% and 7.15%. For tenure of 1 year to less than 2 years, The Allahabad Bank interest rate is 7.00%. Karnataka Bank offer an interest rate of 7.15% for the tenure of 180 days.
    • Bandhan Bank offers an interest rate of 7.50% for RD scheme with 2 year tenure.
    • For durations of 3 to 4 years, the best interest is offered by Bandhan Bank, J&K Bank, Karnataka Bank, which is 7.00%.
    • The Recurring Deposit scheme offered by Post Office comes with an attractive interest rate of 7.20%.

    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 6.25% - 6.75% 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 September-2017

    Bank1 Years2 Years3 Years4 Years5 Years5+ Years
    Andhra Bank6.85%6.85%6.50%6.50%6.50%6.50%
    Allahabad Bank6.75%6.75%6.50%6.50%6.50%6.50%
    Axis Bank6.5% 6.5% to 6.75%6.75%6.25%6.25%6.25%
    Bandhan bank7 to 7.50%7.50%7.25%6.90%6.90%6.50%
    Bank of Maharashtra6.50%6.25%6.25%6.00%6.00%6.00%
    Bank of Baroda6.90%6.90%6.75%6.75%6.50%6.50%
    Bank of India6.50% to 6.70%6.70%6.65%6.60%6.50%6.50%
    Bharatiya Mahila Bank7.00%7.00%6.50%6.50%6.50%6.50%
    Canara Bank6.50%6.30%6.20%6.20%6.20%6%
    Central Bank of India6.60%6.50%6.50%6.50%6.50%6.50%
    City Union Bank7.10%6.85%6.85%6.85%6.85%6.70%
    Corporation Bank6.75%6.75%6.75%6.65%6.65%6.65%
    Citi Bank5.25%5.25%------------
    DBS Bank6.30%6.50%6.50%6.60%6.70%6.70%
    Dena Bank6.80%6.80%6.80%6.80%6.80%7.00%
    Deutsche Bank6.00%6.90%7.00%7.00%7.50%---
    Dhanalakshmi Bank6.60%6.60%6.50%6.50%6.50%6.50%
    DHFL Bank7.75%7.75%7.75%7.75%7.75%7.75%
    Federal Bank6.70%6.60%6.50%7%6.50%6.50%
    HDFC Bank5.75% to 6.75%6.25%6.00%6.00%6.00%6.00%
    Post Office7.10%7.10%7.10%7.10%7.107.10%
    Indian Overseas Bank6.75%6.25%6.25%6.00%6.00%6.00%
    ICICI Bank6.25% to 6.9%6.9.00%6.75%6.75%6.75%6.50%
    IDBI Bank6.65%6.50%6%6%6%6%
    Indian Bank4.75%4.5%4.5%4.5%4.5%4.5%
    Indusind Bank6.85%6.75%6.5% to 6.75%6.5%6.5%6.5%
    J&K Bank6.75%6.75%6.5%6.7%6.5%6.5%
    Karnataka Bank6.50 to 6.90%6.70%6.50%6.50%6.50%6.50%
    Karur Vysya Bank6.75%6.75%7.00%7.00%7.00%7.00%
    Kotak Mahindra Bank6.6%6.4%6.25%6.25%6.00%6.00%
    Lakshmi Vilas Bank7.00%7%7% to 7%7%7%7%
    Nainital Bank7.90%7.90%7.75%7.75%7.50%7.50%
    Oriental Bank of Commerce6.85%6.50%6.50%6.50%6.50%6.50%
    Punjab National Bank6.75%6.65%6.65%6.65%6.65%6.50%
    Punjab and Sind Bank6.4% to 6.80%6.80%6.80%6.80%6.80%6.80%
    Saraswat bank6.8%6.8%----
    South Indian Bank6% to 6.75%6.75%6.50%6.50%6.50%6.50%
    State Bank of India6.75%6.5%6.25%6.25%6.25%6.25%
    Syndicate Bank6.50%6.50%6.60%6.50%6.50%6.50%
    Tamilnad Mercantile Bank Ltd6.90%7.00%7.00%6.90%6.90%6.90%
    UCO bank6.75%6.75%6.75%6.75%6.75%6.5%
    Union Bank of India7.00%7.00%6.80%6.80%6.80%6.80%
    United Bank Of India6%6.25%6%6%6%6%
    Vijaya Bank6.50%6.50%6.50%6.50%6.50%6.25%
    Yes Bank7.10%7.10%7.10%7.10%7.10%7.10%

    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.

      22nd November, 2016

    Recurring Deposit - Sitemap

    RD Reviews

  • Page 1 of 47 1 2 3 4 5
    • HDFC Bank Recurring Deposit
      "Wonderful"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I am having the recurring deposit account with the HDFC bank and the response is very good one. Interest rate is good one with the HDFC bank like and their online banking facilities are good one with them.
      Was this review helpful? 0
      , kottayam
      Reviewed on Sep 22, 2017
    • ICICI Bank Recurring Deposit
      "Wonderful"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I had the recurrent deposit account with the ICICI bank and their customer service is good one for me. I would like to say that the online banking services are also good one with the ICICI bank and I have not faced any issues with them till now.
      Was this review helpful? 0
      , madurai
      Reviewed on Sep 22, 2017
    • HDFC Bank Recurring Deposit
      "Its Average"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I had account issue with my saving account, hence their staff informed me to open recurring deposit with them. Therefore I opened RD before six months, every month I am making the payment of Rs.1000 it has tenure of six months. Finally I got the total amount Rs.6102 there was no benefit.
      Was this review helpful? 0
      , kollam
      Reviewed on Sep 21, 2017
    • HDFC Bank Recurring Deposit
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have got a Recurring deposit with HDFC bank . I have got the RD account for 10 months but I have closed within 5months itself. I have close the RD account because of my emergency need. The rate of interest is nominal with HDFC RD account . I didn't got much difference in the amount when I closed RD account , I am satisfied with eh RD account from HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 20, 2017
    • ICICI Bank Recurring Deposit
      "Good returns on long term investment"
      ICICI BANK
      0.5 4.0/5 "Great!"
      For people like me who spend a lot, best option to save some money is by starting to save first and spend later. In order to achieve this I have invested in recurring deposits for 3 times in ICICI bank.you can do this instantaneously without any documentation using your phone if you have a savings account and phone banking.interest rates are as per government
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 20, 2017
    • HDFC Bank Recurring Deposit
      "Reccure the deposit"
      HDFC BANK
      0.5 4.0/5 "Great!"
      With HDFC bank i hold a Recurring deposit. As my salary account is with HDFC they directly deduct the recurring deposit amount. The amount which is deducting is 1000 rs. After one year we can withdraw that amount with a rate of interest 12 percentage.
      Was this review helpful? 0
      , krishnagiri
      Reviewed on Sep 18, 2017
    • Lakshmi Vilas Bank Recurring Deposit
      "Its Good"
      LAKSHMI VILAS BANK
      0.5 5.0/5 "Blown Away!"
      I have a RD with Lakshmi Vilas, I am investing Rs. 3000 on monthly basis it has minimum tenure of one year, more than a year, I am holding it. They giving 8% of interest for the same bank staff , for others 7.5% of RD Holder, now I hope they reduced around 7%.
      Was this review helpful? 0
      , rajapalayam
      Reviewed on Sep 13, 2017
    • HDFC Bank Recurring Deposit
      "RD is also good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC RD is also very good. There is an option here, where one can transfer the funds on a monthly basis. Interest rate is one and the same as FD. I had given auto debit options where the funds would be transferred from my account to this RD. I dont get any tax benefit here and its a short term RD.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 12, 2017
    • HDFC Bank Recurring Deposit
      "RD is also good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC RD is also very good, the reason for choosing HDFC RD was because I hold an account with the same bank. I heard of this bank RD has got good benefits. It was taken for a limited duration . We earn an interest of rs 500 it was for a short duration of time which is 15 months and I earn an interest of 15% approximately for RD.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • ICICI Bank Recurring Deposit
      "Easy process"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      Six months ago, I applied for a recurring deposit and I opened this account online. The process was simple and I am pleased with the interest rate I earn on it. There are no charges taken and when I close the account, I would get the funds in my account immediately.
      Was this review helpful? 0
      , delhi
      Reviewed on Aug 31, 2017
    • Federal Bank Recurring Deposit
      "Prompt Service"
      FEDERAL BANK
      0.5 5.0/5 "Blown Away!"
      I do have recurring deposit with Federal bank. I forgot the interest rate for this RD account. But this is a long time process. I felt more comfortable in opening recurring account with federal because all my financial accounts are in this bank only. Till date the bank service is very prompt.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 23, 2017
    • ICICI Bank Recurring Deposit
      "Good bank to go for RD"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have Recurring deposit with ICICI, I am investing monthly amount of Rs. 1000 for the period of six months. If I receive the good interest then I continue it.. I opened the RD through netbanking its easy and also I could view the RD summary in it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 19, 2017
    • Kotak Recurring Deposit
      "Veyr good RD very efficient"
      KOTAK MAHINDRA BANK
      0.5 5.0/5 "Blown Away!"
      My salary account is with KOTAK therefore I had setup RD ,it is very easy to book RD using their mobile application or through their net banking. There is no need to visit the branch as all things are made online and it is very easy as even RD calculator is available online.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 17, 2017
    • HDFC Bank Recurring Deposit
      "My RD"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC Recurring Deposit is very good. I am holding this RD for a very short term period it was hardly for a period of 6 months. The amount is up to me to decide and I can deposit any amount starting from rs500 and I am not sure about the maximum limit and when it comes to closure it was auto closure and this request was initiated at the branch..
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 14, 2017
    • HDFC Bank Recurring Deposit
      "Banking services are excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I also have a recurring deposit with HDFC Bank. It was a easy process to get this account. I could do it online and the services are good. The interest rate is also to my satisfaction. I do not have hassles in closing the account too. The response is top always.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • HDFC Bank Recurring Deposit
      "Good RD account"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a RD With HDFC and it is really good . At the time of liquidation the funds would get transferred to my account automatically. through online i had placed a request for this RDI EVERY MONTH they would deduct around 2500 per month and its my choice when it comes to the amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 10, 2017
    • ICICI Bank Recurring Deposit
      "My RD"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      For ICICI Bank recurring deposit my feedback would be, I am a customer of ICICI therefore I decided to opt for RD through this bank it is very easy to make the payment and it is as good as my credit card. Interest rate is very much higher compartively, so therefore I had chosen ICICI for RD.
      Was this review helpful? 0
      , madurai
      Reviewed on Aug 10, 2017
    • IDBI Recurring Deposit
      "Satisfied with the services"
      IDBI BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a recurring deposit a number of times at IDBI and every process for this account was great. I had no hassles in getting the funds in to my account. The customer services has been excellent and they have been quick to complete their job on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 07, 2017
    • SBI Recurring Deposit
      "Good to plan anything"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      Last 10 years I have a RD account with SBI, every month I pay the amount of Rs.10,000 for the tenure of one year, So far I got the interest rate of Rs.52,000 the current intrest of SBI for RD around 6.7% on yearly basic. I normally do auto debit from my account, I could view RD summary in SBI netbanking
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jul 07, 2017
    • ICICI Bank Recurring Deposit
      "Short term investment"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      Initially ICICI gave me good interest rate for my recurring deposit, but for premature interest rate is not upto the mark and they not giving proper information. I am paying Rs. 2000 on monthly basis, they offered me the interest rate around 7.25% its good for short time investment.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 30, 2017
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