NRI Recurring Deposit

Credit Score of 750 = Easy approval on Loans/Credit Card! Check now in less than 3 min!Check for FREE
If you are looking forward to investing money every month and earn interest rates on the same, then recurring deposit is your answer. Through a recurring deposit scheme, people can invest a certain sum every month in their banks for a fixed period of time. The rate of interest offered by the banks on their recurring deposit schemes are similar to the interest rates on fixed deposits. Banks in India also allow their NRI customers to invest in recurring deposit schemes. NRI customers of banks can choose to invest money in recurring deposits through NRE Deposit Accounts or NRO Deposit Accounts.

NRE Recurring Deposit

In NRE Recurring Deposit Scheme, the money for deposit comes only from Non - Residential External Accounts. Most banks in India allow NRE Deposits for a minimum tenure of 1 year and the amount of deposit and the interest rate varies from bank to bank. A major advantage of investing money in this scheme is that the interest that NRIs earn from this deposit scheme is not taxable in India. Some banks also allow people to deposit different amounts every month in their recurring deposit accounts.

There are Many Banks in India that offer Recurring Deposit Schemes to NRIs. Some of them are –

ICICI Bank
Andhra Bank
Axis Bank
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
HDFC
Indian Bank
J & K Bank
Karur Vyasa Bank
State Bank of India
Syndicate Bank
Yes bank
State Bank of Hyderabad
Oriental Bank of Commerce
IDBI Bank
Karnataka Bank
South Indian Bank
Federal Bank
Dhanalakshmi Bank
State Bank of Bikaner and Jaipur
Lakshmi Vilas Bank
Bharatiya Mahila Bank
Saraswat Bank
Punjab & Sind Bank

RD Reviews

Write a Review

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
Thank you for your vote

Thanks, you've already rated this review

RAJ KUMAR , krishnagiri
Reviewed on Sep 18, 2017
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
Thank you for your vote

Thanks, you've already rated this review

RAVIVARMAN R , rajapalayam
Reviewed on Sep 13, 2017
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
Thank you for your vote

Thanks, you've already rated this review

AJAY PRASAD , jaipur
Reviewed on Sep 12, 2017
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
Thank you for your vote

Thanks, you've already rated this review

MANOHARAN VAISHNAVI , chennai
Reviewed on Sep 07, 2017
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
Thank you for your vote

Thanks, you've already rated this review

VISHAL BHARDWAJ , delhi
Reviewed on Aug 31, 2017
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
Thank you for your vote

Thanks, you've already rated this review

GOPAKUMAR VIJAY MENAN , pune
Reviewed on Aug 23, 2017
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
Thank you for your vote

Thanks, you've already rated this review

DILAWAR KHAN , new delhi
Reviewed on Aug 19, 2017
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
Thank you for your vote

Thanks, you've already rated this review

ABHISHEK BISWAS , kolkata
Reviewed on Aug 17, 2017
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
Thank you for your vote

Thanks, you've already rated this review

KRISHNAKUMAR VENUGOPAL , chennai
Reviewed on Aug 14, 2017
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
Thank you for your vote

Thanks, you've already rated this review

ALAGURAJAN .S , tirunelveli
Reviewed on Aug 12, 2017
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
Thank you for your vote

Thanks, you've already rated this review

NUTHAN KUMAR , bangalore
Reviewed on Aug 10, 2017
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
Thank you for your vote

Thanks, you've already rated this review

SUBBURAJ M , madurai
Reviewed on Aug 10, 2017
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
Thank you for your vote

Thanks, you've already rated this review

MURUGAN KRISHNAN , chennai
Reviewed on Aug 07, 2017
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
Thank you for your vote

Thanks, you've already rated this review

RAVI KIRAN LINGAMANENI , ahmedabad
Reviewed on Jul 07, 2017
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
Thank you for your vote

Thanks, you've already rated this review

PRAVEEN KUMAR , chennai
Reviewed on Jun 30, 2017
Recurring Deposit

"Better interest rate for recurring deposit"
CORPORATION BANK

0.5 3.0/5 "Satisfactory"

I am having recurring deposit account with the Corporation bank and its the nationalized bank, so their services are not up to the mark, also they have to be get improved. Branch response is a better one with them and the online banking services are working up to the mark.

Was this review helpful? 1
Thank you for your vote

Thanks, you've already rated this review

JAYAYARAM DAMODARE , pune
Reviewed on Jun 24, 2017
Recurring Deposit

"Super"
CORPORATION BANK

0.5 5.0/5 "Blown Away!"

I am having recurring deposit account with the Corporation bank for some long time. Online banking service is good one and I need to pay around 1000 Rupees per month for ten years of time, also it used to debit as ECS. Branch employee are providing good response to the customer.

Was this review helpful? 1
Thank you for your vote

Thanks, you've already rated this review

MALLANNA SHERANAPPA , bangalore
Reviewed on Jun 24, 2017
Recurring Deposit

"Average "
INDIAN BANK

0.5 3.0/5 "Satisfactory"

With the Indian bank , I do have the recurring deposit and the account got opened on immediate basis. Premature withdraw charges are applicable with them for the deposit. Online banking services are good one with the Indian bank.

Was this review helpful? 3
Thank you for your vote

Thanks, you've already rated this review

SELLAPPA HARISANKAR , chennai
Reviewed on Jun 22, 2017
Recurring Deposit

"Good"
AXIS BANK

0.5 3.0/5 "Satisfactory"

I got the Recurring deposit with the Axis bank and the interest rate is around 7.5% . Total tenure is for two years of time but I can withdraw it at anytime, also I am satisfied with their interest rate. Online services are working in good way and the response is also good one.

Was this review helpful? 0
Thank you for your vote

Thanks, you've already rated this review

MAHESWARAN THANGARAJ , bangalore
Reviewed on Jun 22, 2017
Recurring Deposit

"Very Good service"
ICICI BANK

0.5 5.0/5 "Blown Away!"

I have opened the Recurring deposit with ICICI bank around 2 months ago. The benefits are really good with the RD. I am receiving the interest rate of 7% but being an bank employee, I got 8% for my RD. I pay around Rs.5000 every month and this was for a period of 3 years. I would say it is good for safety purpose and I got sufficient finanical support from them too.

Was this review helpful? 2
Thank you for your vote

Thanks, you've already rated this review

SUKANTA KUNDU , kolkata
Reviewed on Jun 20, 2017