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