Up to 8% RD interest rate: Recurring deposit rates offered by HDFC Bank, SBI, ICICI Bank, PNB, Yes Bank

HDFC Bank has revised recurring deposit interest rates on tenure of 27 Months and 36 months which offers interest rate of 7.15% for general citizens and 7.65% for senior citizens. For tenure of 39 months, 48 months, 60 months, the bank offers 7.20% for general citizens and 7.70% for senior citizens.

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Yes Bank offers interest rates ranging from 6.10% to 8% on terms ranging from 6 months to 5 years. RD can be scheduled for tenancy in 3 month increments (e.g., 6 months, 9 months, 12 months…). The bank will charge a 1% penalty for late payments. The new rates are effective from May 30, 2024.

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ICICI Bank offers interest rates between 4.75% to 7.20% for tenure ranging from 6 months to 10 years for general citizens. For senior citizens, the bank offers between 5.25% to 7.75%. The rates are effective from February 17, 2024.

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SBI offers recurring deposit interest rates ranging from 6.80% to 7% for terms ranging from one year to ten years. The minimum monthly deposit is Rs. 100 (followed by multiples of Rs. 10).

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PNB offers interest rates ranging from 4.50% to 7.25%, with terms ranging from 6 months to 120 months in multiples of one month. If you deposit your pending installments before the maturity date, you will be charged a penalty of Rs.1.00 per Rs.100 every month.

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