Recurring Deposit Interest Rates: SBI Vs HDFC Bank Vs ICICI Bank Vs Yes Bank

Recurring deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Recurring deposit interest rates, once determined, do not change during the tenure. In fact, the Reserve Bank of India ensures that strict guidelines are followed by banks. On maturity, the depositor is paid a lump-sum amount which includes periodic investments and the interest income earned on it. Institutions such as small finance banks and post offices also offer the facility of recurring deposit.

Here is a comparison of recurring deposit (RD) rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank and Yes Bank:

Recurring deposit (RD) rates offered by State Bank of India:

Revised from July 30, 2018:

Recurring deposit (RD) rates offered by HDFC Bank:

Recurring deposit (RD) rates offered by ICICI Bank:

Recurring deposit (RD) rates offered by Yes Bank: 

However, the best interest rates on recurring deposits are offered by small finance banks. Their interest rates on savings, fixed and recurring deposits are usually higher than their larger peers as well as post offices.