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  • SBI Recurring Deposit Interest Rates

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    SBI Recurring Deposit Rates Below One Crore

    Tenure ROI (% p.a.) ROI for Senior Citizens (% p.a.)
    1 year to 455 days 7.15 7.40
    456 days to less than 2 years 7.25 7.50
    2 years to less than 3 years 7.25 7.50
    3 years to less than 5 years 7.00 7.25
    5 years and up to 10 years 7.00 7.25
    Fixed Deposit

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

    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 7.15% for regular customers. For holding an RD for a short duration of more than 455 days to not more than 3 years, the rate of interest offered by the Bank is 7.25%.

    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 5 years and the interest rate applicable is 7.00%. 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 7.00% as well.

    SBI Senior Citizen Recurring Deposit Interest Rates

    Senior Citizens are offered an additional interest rate hike of 0.25% 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 3 years the interest rate applicable will be 7.50%. For a medium term and long term recurring deposit ranging from 3 years to 10 years, the interest rate offered by the Bank is 7.25%.

    More you need to know about Recurring Deposit

    SBI RD Schemes

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    News About SBI Recurring Deposit

    • 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

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