Whoever said wishes don’t come true hasn’t explored our offers!

How to Open a Recurring Deposit Online?

A Recurring Deposit is one of the simplest investment options available that can help investors earn a high Return on Investment or ROI by making regular payments of a stipulated amount of money over a specific period of time. By holding an RD account, the customer can be assured of regular income earned as savings, which will be paid out along with the principal amount invested in the account, after the maturity period. There are various methods of opening an RD account in a Bank of your choice, one of which is opening a Recurring Deposit (RD) online.

Types of Recurring Deposit

There are mainly two types of deposit accounts that are available in India:

  1. Regular Recurring Deposit: This is the most common RD account available in banks. You have a designated tenure and a particular deposit amount, chosen by you. The deposit amount you choose cannot be changed and you have to pay the same amount for the whole tenure that you have chosen. If any deposit remains unpaid or is less, the account generally attract penalties.
  2. Flexi Recurring Deposit: Flexi plans, as the name suggests, offer you the convenience and flexibility of choosing the amount you intend to deposit in a month. There is a core amount that has to be chosen, but it can be changed based on availability of funds. The interest rates might be slightly lower for these accounts but they offer the convenience of choosing the amount based on your financial situation, throughout the chosen tenure.

Why Open A Recurring Deposit Account Online?

The major benefits of opening a recurring deposit account online are:

  • A recurring deposit account is the least hassling investment product considering that all the eligibility criteria are covered by simply having a savings account with the bank.
  • No added documentation is needed as long as you have a savings account with the bank and your net banking is activated. Hence, the whole application process can be done conveniently and efficiently.
  • You can apply online, so that you do not run to the bank for opening the account.
  • You can manage your recurring deposit account online. You can keep checking the interest you are earning online.
  • You can open the account and stay worry-free as long as you have the deposit amount in your linked bank account to pay the installment for each month’s deposit.

Top 5 Things You Need To Know Before You Open an Online Recurring Deposit

  1. In order to open a Recurring deposit online, you need to have activated the Net Banking facility in the Bank where you hold an account.
  2. Only if you have registered for the Net Banking facility with your Bank, will you be able to open an RD account online.
  3. In most banks it is mandatory that you should have a savings account with the bank in order to be able to open an RD account with them online.
  4. Make sure that the RD scheme is flexible.
  5. The Net Banking layout and RD opening terms and conditions of each Bank might slightly vary. Hence, it is advisable to get in touch with your Bank to know more about opening an RD account online in that Bank.

Steps for Opening Online Recurring Deposit Account

If you do not have a Net Banking facility enabled on your banking account, you can do so by getting in touch with the Bank and filling out a Net Banking registration form.

  • Once your Net Banking is activated, log in to your account using your designated User name or ID and password in order to access your account online.
  • Choose the option that allows you to open an RD account. While opening a Recurring Deposit account online, you will be required to provide details such as the amount which you wish to deposit each month and the Tenure of Deposit , i.e the period for which you wish to hold your Recurring Deposit scheme active.
  • Once this is completed, you have to link your savings account to this account from which you can not only transfer the required funds to the account regularly, but also opt to place a standing instruction mandate to make the payment automatically, by the due date each month.

Read More Article on Recurring Deposit

Recurring Deposit - Sitemap

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Recurring Deposit by Banks
Recurring Deposit by other Institutions

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

RD Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Bank Recurring Deposit
    "Convenient and safe investment"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I am happy with HDFC recurring deposit , I was opened through online, monthly I invested Rs. 5000 per month at last I got the money around Rs. 45,000 I got better profit. The support team is helpful and the interest rate is also genuine for the customer satisfaction.
    Was this review helpful? 0
    , haldwani
    Reviewed on Apr 15, 2019
  • HDFC Bank Recurring Deposit
    "Its Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have one Recurring deposit with HDFC, Monthly I invest the money around Rs.1000 it has the tenure of one year, if I want I can prolong the duration. The interest rate is good hence I opened the account. I can track my RD details through HDFC netbanking its very convenient.
    Was this review helpful? 1
    , kochi
    Reviewed on Apr 15, 2019
  • SBI Recurring Deposit
    "Satisfactory"
    STATE BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    It was a very easy process to open a recurring deposit with State Bank of India. The customer support is good. I get a good interest on my savings. The process to open to this account is online. It is easy and smooth. The lock in period starts off from three months onwards.
    Was this review helpful? 1
    , new delhi
    Reviewed on Apr 13, 2019
  • Lakshmi Vilas Bank Recurring Deposit
    "Conveneint RD maintenace"
    LAKSHMI VILAS BANK
    0.5 5.0/5 "Blown Away!"
    I opened recurring deposit through Lakshmi Vills netbanking, best part the customer can invest minimum of Rs.100 to 1 lakh. They are also providing attractive interest rate of 7.6%, the customer service is very helpful in terms handling the queries. If in case I want to withdraw the RD amount there is no charges applicable . Automatically the amount credit to the account.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Apr 11, 2019
  • Federal Bank Recurring Deposit
    "Tactical investment plan"
    FEDERAL BANK
    0.5 5.0/5 "Blown Away!"
    I always Prefer Recurring Deposit instead of Fixed deposit, It is a tactical investment plan . So have invested for higher interest rates in Federal bank . Its a three years plan and going to complete by this year and hoping for better returns .
    Was this review helpful? 0
    , kochi
    Reviewed on Apr 10, 2019
  • ICICI Bank Recurring Deposit
    "Its Good"
    ICICI BANK
    0.5 4.0/5 "Great!"
    For opening recurring deposit in ICICI bank is that's simple. Using my I mobile app, I opened the account without visiting to the bank . I can deposit minimum amount of Rs. 500 for 15 months, the customer support is very good. Even the ICICI interest rate is very normal as per the government.
    Was this review helpful? 1
    , mumbai
    Reviewed on Apr 08, 2019
  • HDFC Bank Recurring Deposit
    "A good return back policy"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    In HDFC they offered me to take a recurring deposit . I need to pay an amount of Rs 2000 /- on a monthly basis . After 12 moths ,Certain amount will be credited to my amount . Executives were so helpful in explaining about the complete information .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 08, 2019
  • City Union Bank Recurring Deposit
    "Satisfactory"
    CITY UNION BANK
    0.5 5.0/5 "Blown Away!"
    I could open the recurring deposit online with City Union bank. The customer support is good and there are no hassles in the overall process. I earn a good interest on this account. The bank provides good services and the online banking is very convenient.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 05, 2019
  • Citibank Recurring Deposit
    "Hassle free Recurring deposit expereince"
    CITIBANK
    0.5 5.0/5 "Blown Away!"
    I have Recurring deposit with CITI, the interest rate is not upto the mark, if its bulk amount its good. I don't consider the interest I just maintaining it. The process is easy through app I opened the account, the best part before the consumer change the mind, the process complete instantly.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 02, 2019
  • HDFC Bank Recurring Deposit
    "Trust worthy"
    HDFC BANK
    0.5 4.5/5 "Excellent!"
    I opened HDFC recurring deposit through online banking , the rate of interest is standard as per the RBI guideline. I can access the account any time by netbanking.It has the tenure of one year, even I have option to prolong the tenure period of my RD.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • HDFC Bank Recurring Deposit
    "Satisfactory"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I bank with HDFC Bank for a recurring deposit too. The process to open this account was easy and convenient. I can do it online. The interest they provide on the savings is also good. There are no charges related to the account. Overall it has been good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 29, 2019
  • HDFC Bank Recurring Deposit
    "Good Saving"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have RD with HDFC Bank, I think they are providing 7.2% for one year,its for five account . I have activated the account through online, they do give remain call for the up coming RD amount. Automatically ecs debit from my account, the banker is updated with all the information.
    Was this review helpful? 1
    , mumbai
    Reviewed on Mar 22, 2019
  • IDBI Recurring Deposit
    "satisfactory"
    IDBI BANK
    0.5 5.0/5 "Blown Away!"
    I have a savings account with IDBI BANK since the interest rate is good so have decided to open Recurring Deposit with them and its 5 years now. They offer 8.6% which was satisfactory. Its a monthly investment and have enabled ECS option. This account is manageable online.
    Was this review helpful? 3
    , bangalore
    Reviewed on Mar 19, 2019
  • HDFC Bank Recurring Deposit
    "Good Investment"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have recurring deposit with HDFC account, I went to the bank and opened the account , within 5 days it got activated. I used to get reminder messasge for monthly RD. Minimum I can deposit from Rs.500 to 1 lakh, the current interest with HDFC around 7.5% its really good.
    Was this review helpful? 1
    , pune
    Reviewed on Mar 17, 2019
  • SBI Recurring Deposit
    "Good Saving"
    STATE BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    Based on SBI saving account, I have opened recurring deposit with SBI, I am depositing Rs. 20,000 in a month, the bank will provide the interest around 6.7% based on the current financial year. I could access RD account through mobile application.
    Was this review helpful? 6
    , hyderabad
    Reviewed on Mar 11, 2019
  • HDFC Bank Recurring Deposit
    "Good Investment"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have activated HDFC recurring deposit through online banking within 3 days of time, monthly I deposit Rs. 1000 it has the term of 12 years, the rate of interest is around 8.2%, the support is very good for the recurring queries, there is no charges for the prematures withdrawal.
    Was this review helpful? 5
    , hyderabad
    Reviewed on Mar 11, 2019
  • ICICI Bank Recurring Deposit
    "Excellent feature"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have another recurring deposit account with ICICI Bank, but this one is opened through iwish. It is a flexible recurring deposit. I can choose a goal and deposit fund as and when I want too. I do not have to do it only on a monthly or quarterly basis.
    Was this review helpful? 2
    , chennai
    Reviewed on Mar 10, 2019
  • ICICI Bank Recurring Deposit
    "Good in all"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have a recurring deposit at ICICI Bank as well. It was a easy process to open this account. I could do it online and I can make a investment every month. They provide a reasonable rate of interest too. I can even close this account online. I need not have to visit the bank.
    Was this review helpful? 2
    , chennai
    Reviewed on Mar 10, 2019
  • SBI Recurring Deposit
    "Good"
    STATE BANK OF INDIA
    0.5 4.0/5 "Great!"
    The interest rate is nominal when compared with other banks. As my savings account is with SBI and it was easy to do transactions for me and convenient, I have no customer care experience with Recurring Deposit account. I do monthly investment through online net banking.
    Was this review helpful? 2
    , new delhi
    Reviewed on Mar 09, 2019
  • HDFC Bank Recurring Deposit
    "Good for saving"
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    Every month I used deposit Rs. 5000 for one year of HDFC recurring deposit, the current interest is around 5 to 6% for recurring investment, I have option to take liquidity through online. The customer support is good on my queries regarding RD.
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 07, 2019
Common Loader Icon
Page 1 of 50 1 2 3 4 5
reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.