PSU vs Private banks: Which bank offers the best rates on recurring deposit
Recurring deposits are a wonderful choice for people who want to invest little sums every month. With a recurring deposit, you may set away a specified amount of money each month and obtain a high rate of return. This will allow the user to accumulate an enticing quantity at maturity. Here is a recurring deposit interest rates comparison of SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank, Yes Bank
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SBI RD Interest Rates
State Bank of India offers recurring deposit interest rate between 6.50% to 7% on tenures from 1 year to 10 years. The highest interest rate is offered on tenure of 2 years to less than 3 years. The rates are effective from December 27, 2023.
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Canara Bank RD interest rate
Canara Bank RD interest rate is same as FD interest rate. It offers recurring deposit interest rate between 6.85% to 7.25% on tenures from 1 year to 10 years. The highest interest rate is offered on tenure of 444 days. The rates are effective from November 16, 2023.
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PNB RD Interest rates
Punjab National Bank offers the same interest rate as FD interest rate. It offers a recurring deposit interest rate between 6% to 7.25% on tenures from 6 months to 10 years. The highest interest rate is offered on tenure of 400 days. The rates are effective from January 8, 2024.
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HDFC Bank RD interest rates
HDFC Bank offers recurring deposit interest rates ranging from 4.50% to 7.10% for terms ranging from 6 months to 10 years for general citizen. The highest interest rate of 7.10% is available for a 15-month term. The rates are applicable from January 24, 2023.
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ICICI Bank RD interest rates
ICICI Bank offers recurring deposit interest rates between 4.75% to 7.10% for tenures of 6 months to 10 years for general citizens. The highest interest rate of 7.10% is offered on tenure of 15 months, 18 months, 21 and 24 months. The rates are applicable from February 24, 2023.
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Yes Bank RD rates
Yes Bank offers recurring deposit interest rates ranging from 6.10% to 7.75% on terms ranging from 6 months to 10 years. The highest interest rate of 7.75% is available for terms of 18 months and 21 months. These rates are effective from November 21, 2023.
