Recurring Deposit Interest Rates Bank wise
Bank
1 Years
2 Years
3 Years
4 Years
5 Years
5+ Years
Andhra Bank
6.50
6.50
6.25
6.25
6.25
6.25
HDFC Bank
6.85
7.00
7.00
7.00
7.00
6.00
Post Office
—
—
—
—
—
7.10
ICICI Bank
6.75
6.75
6.50
6.50
6.50
6.50
State Bank of India
6.70
6.75
6.80
6.80
6.85
6.85
Difference between RD(Recurring Deposit) and FD (Fixed Deposit)
FD Is a Lumpsum Investment for a certain period. ex: 5 Years.
RD: is a Recurring Monthly Payment(Just like EMI) for certain period ex: 5 years.
EX: You invested 1 lakh in FD as Lumpsum. here our FD Calculator
Rate of Interest (%):7.25%
Maturity Date 25-May-2024
Maturity Value: Rs. 1,43,226
Aggregate Interest Amount: Rs. 43,226
While Recurring deposit for (1 lakh for years) 100000/60 (months or 5 years)=1666.67
let’s assume we invested in RD, 1667 (every month for 5 years.
Interest rate:7.25%
Maturity Date 25-May-2024
Total Savings:Rs.1,20,706 (savings+interest)
Interest Earned:Rs.20,686
RD Calculator