SBI RD Interest Rates: Post Office RD vs SBI Vs ICICI Bank Vs HDFC Bank: Highest recurring deposit interest rates

For RDs, an individual has to deposit a fixed amount of their income every month for a predetermined period. After maturity, the principal amount is refunded, along with any interest received.

Here’s a quick comparison between , , and to check which is offering the best interest rates for recurring deposits.

Post Office recurring deposit interest rates

India Post office offers recurring deposits at an interest rate of 5.8 percent for a fixed tenure of 5 years (60 months) for the July-September quarter for the current fiscal. While it can be extended for another 5 years by submitting an application to the relevant Post Office. The interest rate applicable throughout the extension will be the same as when the account was first opened.

HDFC Bank recurring deposit interest rates

HDFC Bank offers RD facility from 6 months to 120 months with interest rates varying from 3.75 percent to 5.75 percent. The rate offered by HDFC Bank for a 5-year or 60-month term is 6.70 percent.

ICICI Bank recurring deposit interest rates

The ICICI Bank recurring deposit feature is available for periods ranging from six months to ten years. The interest rate offered by ICICI Bank for an RD with a period of three to five years is 5.70 percent, while the rate above that is 5.75 percent.

SBI recurring deposit interest rates

State offers RD interest rates that are the same as term deposit rates for a minimum of 12 months and a maximum of 120 months. SBI offers 5.50 percent interest on maturities of 5 years or more, and 5.45 percent on terms of 3 to 5 years.