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  • SBI Recurring Deposit Interest Rates - May 2017

    SBI BANK RECURRING DEPOSIT
     4.5 / 5.0   by 100 users
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    SBI Recurring Deposit Rates Below One Crore

    Tenure Of Recurring DepositROI (% p.a.)ROI For Senior Citizens (% p.a.)
    1 year to 455 days6.97.4
    456 days to less than 2 years6.757.25
    2 years to less than 3 years6.256.75
    3 years to less than 5 years6.256.75
    5 years and up to 10 years6.256.75

    Get the Highest Interest Rates on State Bank of India Recurring Deposit

    SBI RD Interest Rates

    State Bank of India is a leading public sector bank in India that offers attractive term deposits and reliable investment options to customers. One among these schemes is its Recurring Deposit scheme that can be opened with a minimum of just Rs. 100 and in multiples of Rs. 10 thereafter. There is no maximum limit on the amount that can be deposited. The deposit term ranges from 12 months to 10 years. Premature withdrawal of funds available in the Recurring Deposit is permitted.

    SBI Short-term RD Interest Rates

    State Bank of India offers Recurring Deposit for a short deposit term from a minimum of 12 months to 455 days at an interest rate of 6.90% for regular customers. For holding an RD for a short duration of more than 455 days to not more than 2 years, the rate of interest offered by the Bank is 6.75%.

    SBI Medium and Long Term RD Interest Rates

    State Bank of India also offers medium deposit tenures and long deposit tenures on Recurring Deposit. Medium tenures for holding an RD account with the Bank ranges over a period of more than 3 years to less than 5 years and the interest rate applicable is 6.50%. The long term RD can be held with the Bank for a tenure of more than 5 years to a maximum period of not more than 10 years, at an interest rate of 6.50% as well.

    SBI Senior Citizen Recurring Deposit Interest Rates

    Senior Citizens are offered an additional interest rate hike of 0.50% over the interest rate offered to the general public. In this case, they will receive 7.40% interest rate for a short term RD ranging from 1 year to 455 days and for a period of more than 455 days to not more than 2 years the interest rate applicable will be 7.25%. For a medium term and long term recurring deposit ranging from 3 years to 10 years, the interest rate offered by the Bank is 7.00%

    SBI Recurring Deposit FAQs

    • Is it possible to open a recurring deposit (RD) account through Internet Banking?

      The answer is, yes. You can open the SBI Bank Recurring Deposit account by login to the internet banking with your user ID and password. Once you have logged into the account, you will see the e-Fixed Deposit link under the Request tab. You will need to click on the e-RD/e-SBI Flexi Deposit link. After you have verified the details and selected the desired values, you can proceed to create an RD account.

    • What is the minimum amount that can be paid towards an RD account as monthly installment?

      You can pay as low as Rs.100 as a monthly installment for an SBI RD account. The amount and the number of installments can be selected while opening the RD account. Once the RD account is opened, you won’t be able to change the amount or period of the account. The RD account can be opened for a minimum of 12 months and maximum of 120 months.

    • Do we have the option to open a deposit account for any other name or account that is not funding the RD account?

      Currently, there are no online options to create an RD account for someone who is not funding it. You may approach your branch to obtain further information.

    • How to add a nominee in an RD account?

      When you are creating an RD account on the internet banking platform, you will see an option to add/retain a nominee from the saving account that is funding the deposit account. You can add and edit a nominee by contacting the bank.

    More you need to know about Recurring Deposit

    SBI RD Schemes

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    News About SBI Recurring Deposit

    • SBI Decreases Interest Rate on Term Deposit

      From March 1, the interest rate of term deposits of SBI has been decreased. For a tenure of 180 days to below 1 year, the interest rate is 6.5% and for a tenure of 456 days to below 3 years, the interest rate is 6.75%. For Senior citizens, the interest rates for the same tenures is 7% and 7.25% respectively. Even after the reduction in rates, SBI will earn more than its rivals. After demonetization, banks saw an increase in deposits, which are now reducing

      3rd March 2017

    • SBI Slashes Bulk Deposit Rates

      Last week, State Bank of India (SBI)reduced interest rates for bulk deposits at 15 basis points on all one, two and three year tenors immediately. Axis Bank on the other hand cut marginal cost of lending rate (MCLR) post demonetization of Rs500 and Rs1000 notes lead to rise in deposits. All banks across the country have experienced a rise in deposit products which has made banks take the decision of further reducing deposit rates. SBI term deposits which have a tenor of 1 year to 455 days, 456 days to 2 years and 2 to 3 years have deposit rates that are 6.90%, 6.95% and 6.85% respectively.

      28th November, 2016

    • SBI Cuts Rates on Bulk Deposits

      PM Modi’s fight against black money has intensifies, with banks receiving large deposits over the last month or so.

      Taking this as a cue, State Bank of India, India’s largest public sector bank, has decided to slash interest rates on bulk deposits.

      The interest rates have been cut by about 125 to 190 basis points and has supposedly been arrived upon due to the easy availability of funds.

      While all Indian banks have received over Rs.5.4 lakh crores from November 9-18, SBI alone has received up to Rs. 1.5 lakh crores, as suggested by RBI.

      SBI came to this decision after several other banks also decided to lower the rates as money felt flowing in at an incredible rate over the last month or so.

      24th November, 2016

    • State Bank of India Slashes FD Rates to 7.05%, 6 Year Low

      In a huge setback for customers, State Bank of India has reduced the interest rate on its one-year Fixed Deposits to a six year low of 7.05%. This was done after the most recent round of cuts put forth by the largest bank in India and saw rates on two-year and three-year deposits being increased to 7% and 6.5%, respectively. The last time such as incident occurred was between October 1 and December 7 in the year 2010 when the rate of interest was down to 7%.

      SBI’s peer in Delhi, the Punjab National Bank has reduced the rate of interest on one-year deposits by 5bps or basis points to 7.2% and those on 2-year and 3-year deposits by 10bps or base points each to 7.05%. Bank of Baroda has maintained the rate of interest on Fixed Deposits of one and two years, but has decreased the interest rate on 3-year deposits by 5 base points to 7.25%. Important lenders from the private sector such as HDFC Bank, Axis Bank and ICICI Bank have held rates on their one-year, two-years and three-years deposit at 7.25%.

      Reducing the rates on fixed deposits are necessary for banks to maintain their margins while transmitting the Reserve Bank of India’s rate cuts, which has amounted to 175 base points since the January of 2015 to borrowers. Borrowers are likely to get better deals but fixed deposits are also becoming increasingly unappealing for savers.

      3rd November 2016

    • SBI Cuts Deposit Rates

      State Bank of India has cut its term deposit rates (for deposits of up to Rs.1 Crore) by 10 to 50 basis points across various maturities. Starting from November 1, 2016, the bank will offer a maximum interest rate of 7.1% on deposits with a tenure of 456 days to below 2 years. The current interest rate for the same is 7.25%. The bank has announced that its senior citizen customers will receive 50 basis points more than the card rates from November. At present, senior citizens receive 25 basis points above the card rates. One basis points equals to 1-hundredth of a percentage point.

      29th October 2016

    • SBI Cash Deposit Limit Increased

      State Bank of India has bumped up the limits on cash deposits allowed. Customers can now use the Cash Deposit Machines to deposit up to Rs.2 lakhs. This is already in effect. Earlier, the limit was Rs.49,900 which was a significantly low amount. The Cash Deposit Machines can also be used to make payments towards PPF and loan EMIs. Customers can utilise the machines to make their contributions towards their recurring deposit accounts as well. The Cash Deposit Machines will eliminate the need to go to SBI branches and transactions can be carried out quickly on the machines.

      13th September, 2016

    • State Bank of India Considers 25 Basis Point Interest Rate Cut

      A 25-basis points cut in interest rates is to be expected soon, according to State Bank of India Chairperson Arundhati Bhattacharya, who also commented on the relationship between the financial health of the banking sector and all-round performance of the economy. Talking to IANS, she claimed that the government’s target of 4% inflation is lower than ideal, in a country where food inflation has consistently remained above 6% in the last six decades, and 40-50% of components in Consumer Price Index were volatile food items. However, she predicted a fall in the current inflation owing to a statistical strategy involving price indices, that opens up the door for interest-rate cuts by commercial banks – something the central bank has wanted since it had itself cut rates. The Central Bank’s newly introduced set of norms for the sale of stressed items by commercial banks is largely meant to help the latter balance their balance sheets and ensure total transparency. She admitted that legacy issues in bad loans would take a long time to be addressed – though it would be no more than five years, by which time the economic activity would have picked up.

      11th September 2016

    • State Bank Revises RD Interest Rates in Recent Announcement

      State Bank of India recently revised its Recurring Deposit interest rates for the deposit tenure between 12 months - 255 days to 7.15%. For a deposit tenure between 455 days to 3 years, the RD interest rate stands at 7.25%. The rates for senior citizens has also been increased by 25 basis points. A short term deposit tenure between 1 year and 455 days will attract an interest rate of 7.40% and a tenure between 455 days to 3 years will attract an interest rate of 7.50%.

      2nd September, 2016

    • SBI partners with IOC Kisan Seva Kendras to Extend Banking Facilities

      Farmers across the country will now how easier access to banking facilities as SBI ties up with Indian Oil Corporation’s (IOC) Kisan Seva Kendras. IOC has already established 6,500 Kisan Seva Kendras in rural India and in remote areas. These KSKs provide agricultural inputs to farmers that include fertilisers, pesticides, seeds and diesel. With this partnership with SBI, banking products such as savings account, recurring deposits, fixed deposits, credit facilities, social security schemes and remittances will be available to farmers at the KSKs. Farmers will be able to access these banking facilities closer to home. This will help with bringing more financial organisation to the rural sectors.

      25th July 2016

    Recurring Deposit - Sitemap

    SBI RD Rates Reviews

  • Page 1 of 5 1 2 3 4 5
    • SBI Recurring Deposit
      "Good Service"
      STATE BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      I have Recurring deposit account with State bank of India. I opened this account long bank. Monthly payment is 6000 with the tenure of 18 months. I had started this account in 2012 and still continuing the same account with SBI. Services are good.
      Was this review helpful? 0
      , bhiwadi
      Reviewed on May 25, 2017
    • SBI Recurring Deposit
      "Good Service"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have recurring deposit account with State bank of India. The period is for one year and the deposit amount is for thirty five thousand. I am satisfied in opening RD account with SBI, because the interest rate is quite good with them than other banks.
      Was this review helpful? 5
      , indore
      Reviewed on May 04, 2017
    • SBI Recurring Deposit
      "Good For Future"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I opened my SBI Recurring deposit account through online, Already the bank has my KYC details. It not mandatory to submit my documents. I used to Rs.2000 in monthly basis for 5 Years. SBI provides the interest rate of 9% for the RD, It is useful for me to invest my money.
      Was this review helpful? 48
      , nasik
      Reviewed on Feb 07, 2017
    • SBI Recurring Deposit
      "Its good"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I visited to the SBI branch to open RD account. SBI deducts some amount from my account in monthly basis, After seven years of tenure they will provide some cumulative interest of 8.5% from the amount paid. It was really good and useful policy.
      Was this review helpful? 18
      , tiruchirapalli
      Reviewed on Dec 14, 2016
    • SBI Recurring Deposit
      "My SBI RD"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      SBI RD is really good. I am holding this RD for the last 5 years. The rate of interest that I earn on my RD is the best. I had applied for this RD online and it took hardly 10 minutes to open this RD online and no additional documents required for the same.
      Was this review helpful? 25
      , varanasi
      Reviewed on Nov 24, 2016
    • SBI Recurring Deposit
      "My RD"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      For educational purpose I had invested in SBI RD I had taken RD for a period of 2 years. I am supposed to place 5k per month in my account. I had visited the branch and placed a request by filling an application form. I had to submit my aadhar card and account number for opening a RD with SBI.
      Was this review helpful? 22
      , chennai
      Reviewed on Oct 21, 2016
    • SBI Recurring Deposit
      "Safe and secured"
      STATE BANK OF INDIA
      0.5 3.5/5 "Pretty good"
      Five years back I had opened this RD. The best part about this SBI RD they did not levy any additonal charges. Here in RD every month I am supposed to pay about rs 100 as a deposit and it can be any amount and it should be multiples of hundred. I guess there is no restriction when it comes to maximum amount to deposit.
      Was this review helpful? 16
      , chandigarh
      Reviewed on Sep 07, 2016
    • SBI Recurring Deposit
      "Good "
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have had an earlier experience of a recurring deposit with SBI Bank. I get the details related to RD from online.It was an easy process and the rate of interest was also good. There is no locking period with SBI and the rate is around 8% for the recurring deposit.
      Was this review helpful? 30
      , hyderabad
      Reviewed on Jun 30, 2016
    • SBI Recurring Deposit
      "Good experience"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have had an earlier experience of a recurring deposit at SBI Bank. They had a tenure of six months. I extended my account to a year. The executive came over to my place and I filled in the documents. I only had to visit the bank once when I closed the account. It was a easy process and the rate of interest was also good.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jun 28, 2016
    • SBI Recurring Deposit
      "Better "
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I recently opened my recurring deposit in State bank of India. Interest rate told to me was around 8% which is a better one to go with. The lock period for this RD is for 2 years. I find this RD as a beneficial one with which I could save some money for future.
      Was this review helpful? 12
      , bangalore
      Reviewed on Jun 25, 2016
    • SBI Recurring Deposit
      "Average "
      STATE BANK OF INDIA
      0.5 3.5/5 "Pretty good"
      Customer need to visit their office for each process which is a drawback.Initially the rate applied was around 9.25% for the recurring deposit but now a days they have changed to 8% from SBI.The customer support and response offered was not nice with SBI Bank.
      Was this review helpful? 8
      , chennai
      Reviewed on Jun 22, 2016
    • SBI Recurring Deposit
      "Process can be made on online "
      STATE BANK OF INDIA
      0.5 3.5/5 "Pretty good"
      SBI has to make the process easy for the customer in making payment for recurring deposit.They give a cheque or DD for making payment instead there can be some online options to make the process very simple.The rate offered was good for recurring at that time but now its been reduced with SBI Bank.
      Was this review helpful? 8
      , chennai
      Reviewed on Jun 17, 2016
    • SBI Recurring Deposit
      "Satisfactory "
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      Recurring deposit interest rate is approximately 7% for the minimum lock in period of 12 months from SBI bank. The minimum amount o start plan is Rs.500.After completing the tenure period the amount will be credited to the account but we have to visit the nearest bank to oprn the RD account
      Was this review helpful? 14
      , bangalore
      Reviewed on Jun 03, 2016
    • SBI Recurring Deposit
      "Easy to open & close the deposit online"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      Two years back I had taken a Recurring deposit with State Bank of India. Their interest rate offered was 8.5% and i paid an amount of Rs.5k every month. I had this broken a month before maturity as it was for an urgent need. There was however no charges for the foreclosure. I had opened it as well as closed it through online portal. Its hassle free and gets credited to my SBI account immediately or maximum the same day without any delay.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 01, 2016
    • SBI Recurring Deposit
      "Best for investment"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have down closed my recurring deposit with the State Bank of India and the interest rate was around 9%. Total tenure is around 20 years like I used to deposit around 5000 Rupees per month. Fifteen thousand I earned as the interest and the customer service is good one with them. In a nutshell, the service and the response provided by them is really good.
      Was this review helpful? 16
      , chennai
      Reviewed on May 10, 2016
    • SBI Recurring Deposit
      "Simply Good"
      STATE BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      With the State Bank of India, I do have recurring deposit and its not much approachable but the good thing is security. Automatic deposit to savings account will not be available like I have to do everything by traditional account. Its been an year of time and the interest rate is pretty good.
      Was this review helpful? 13
      , bangalore
      Reviewed on May 06, 2016
    • SBI Recurring Deposit
      "Dependable investment"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have a Recurring deposit scheme with State Bank of India which I have taken twice for tenure of one year and converted it into a fixed deposit. The recent scheme is for 3 years and offers an interest rate of 7-8%. I use the recurring deposit for safe investment as I think its a dependable form of savings.
      Was this review helpful? 8
      , coimbatore
      Reviewed on May 04, 2016
    • SBI Recurring Deposit
      "My RD account"
      STATE BANK OF INDIA
      0.5 3.5/5 "Pretty good"
      SBI Recurring Deposit is fine. I normally deposit certain amount to that account. I prefer using internet banking for the same. There is no option where we can deposit a lesser amount however the monthly amount can be increased. I dont get any tax benefit. When it comes to liquidation I have been to the branch personally and I have completed the formalities. This RD is one year old.
      Was this review helpful? 7
      , bangalore
      Reviewed on Apr 18, 2016
    • SBI Recurring Deposit
      "Very good investment"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have a recurring deposit scheme with State Bank of India. Their rates are around 2.5% and which is up to the other offers in the market. It is a very good method of investment. I am quite happy with their schemes and services and I make the payments through online payment.
      Was this review helpful? 5
      , bangalore
      Reviewed on Apr 02, 2016
    • SBI Recurring Deposit
      "Good enough"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I maintain a recurring deposit with State Bank of India. I have put it for 3 years and they give a n interest rate of 1.25%. Their customer service and responsiveness is pretty good. There is immediate response and good service when I approach the branch for any issues needs.
      Was this review helpful? 5
      , chennai
      Reviewed on Mar 31, 2016
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