SBI v. IndusInd Bank v. HDFC Bank v. ICICI Bank

Recurring deposit or R & D is a kind of term deposit whereby it is necessary to deposit a fixed amount at a fixed interval, which generates interest income. At maturity, the depositor receives a lump sum that includes his periodic investments and the interest income earned. Recurring deposit interest rates, once determined, do not change during the term of the mandate. In fact, the Reserve Bank of India ensures that banks follow strict guidelines. Institutions such as small financial banks and post offices also offer the possibility of recurring deposits.

Here is a comparison of the recurring deposit rates offered by the State Bank of India (SBI), IndusInd Bank, HDFC Bank and ICICI Bank:

State Bank of India

Rates The following interests have been revised as of July 30, 2018, according to the bank's website – sbi.co.in:[19659006(Finally)%paran) Interest rate for the elderly (% per year) 7 days to 45 days 5.75 6.25 46 days to 179 days 6.25 6.75 19659012] 180 days to 210 days 6.35 6.85 211 days to less than one year 6.4 6.9 1 year to less than 2 years [19659008] 6.7 7.2 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.8 7 5 years old and up to 39 to 10 years 6.85 7.35

IndusInd Bank

The following R & D interest rates revised as of October 5, 2018, according to the bank's website – indusind.com:[19659036hnenénis[19659007Tauxd&#39/annualinterest(%)[19659006] Old-age rate pa (%) 12 months 8 8 15 months 7.75 8.25 18 months 7, 75 8.25 19659012] 21 Months 7.75 8.25 24 Months 7.5 8 27 Months 7.5 8 30 Months 7.5 8 33 months 7.5 8 3 years – less than 5 years 7.5 8 5 years – 10 years 7.25 7.75 [19659033]

HDFC Bank

Recurring Deposit Rates Proposed by the HDFC Bank, Revised August 6, 2018:

ICICI Bank

Rates of Recurring Deposits (RD) Proposed by ICICI Bank:

However, small finance banks generally offer higher interest rates than many large banks .