{"id":5603,"date":"2021-06-22T00:43:00","date_gmt":"2021-06-21T19:13:00","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=5603"},"modified":"2021-06-26T04:08:15","modified_gmt":"2021-06-25T22:38:15","slug":"highest-interest-rate-on-recurring-deposits-rd","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/highest-interest-rate-on-recurring-deposits-rd\/","title":{"rendered":"Highest Recurring Deposit Interest Rates (RD) \u2605 June 2021"},"content":{"rendered":"\n<p>We compare the <strong>Recurring Deposit Interest Rates (or RD Interest Rates)<\/strong> across 40 major banks in India so that you can invest in the best RD. Recurring Deposit is very popular way to save money especially for people with regular income or house wives. This is because RD forces you to save a fixed amount for pre-defined period. At maturity you are paid the accumulated amount which you can put to good use. For e.g. if you deposit Rs 1,000 every month for 5 years at 7%, you would get about Rs 72,000 at maturity.<\/p>\n\n\n\n<p><strong>You might want to bookmark this page as the RD interest rates would be updated every month which would help you in making better decision<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Recurring Deposit Features<\/h2>\n\n\n\n<ul><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">Most banks offer <strong>RDs for tenure of 6 months to 10 Years<\/strong><\/span><\/li><li><span style=\"-webkit-text-stroke: 0.15px; text-align: justify;\">The <\/span><strong style=\"-webkit-text-stroke: 0.15px; text-align: justify;\">tenure of RD can be in multiple of 3 months<\/strong><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">The amount of instalment and number of instalment cannot be changed after opening of the account<\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">The interest on <strong>RD compounds quarterly<\/strong><\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">In most cases the <strong>RD interest rate is similar to Fixed Deposits<\/strong> offered by Banks for similar tenures. However some banks like Bank of India gives 0.5% extra interest rate for RD as compared to FD for similar tenure<\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">The <strong>minimum deposit amount can be as low as Rs 100<\/strong> per month, though some banks may have higher limit<\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial;\"><span style=\"-webkit-text-stroke-width: 0.15px;\">There can be <\/span><strong style=\"-webkit-text-stroke-width: 0.15px;\">penalty for missing even one <\/strong><span style=\"-webkit-text-stroke-width: 0.15px;\"><b>instalment<\/b>.<\/span><\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial;\"><span style=\"-webkit-text-stroke-width: 0.15px;\">In case you <\/span><span style=\"\"><b style=\"-webkit-text-stroke-width: 0.15px;\">miss multiple <\/b><\/span><\/span><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\"><strong>instalments the RD can be closed<\/strong><\/span><span style=\"-webkit-text-stroke-color: initial;\"><span style=\"-webkit-text-stroke-width: 0.15px;\"> and amount returned to you<\/span><\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">Most banks offer <strong>Loan\/Overdraft against the amount available in Recurring Deposit<\/strong>. The interest is generally 0.5% to 1% more than that offered to RD.<\/span><\/li><li>There are <strong>penalty clauses for pre-mature withdrawal<\/strong> similar to Fixed Deposits<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Best Recurring Deposit Interest Rates<\/h2>\n\n\n\n<p>Following are the highest Interest rates on Recurring Deposits based on duration:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Best Recurring Deposit Interest Rates from Small Financial Banks<\/h3>\n\n\n\n<ul><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">For RD duration of <strong>1 Year Suryoday Small Finance Bank, Utkarsh Small Finance Bank &amp; North East Small Finance Bank <\/strong>offers<strong> 6.75%<\/strong><\/span><\/li><li>For <strong>2 years Suryoday Small Finance Bank<span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\"> <\/span> offers 7.00%<\/strong><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">For <strong>3&nbsp;to 4 Years<\/strong> the best interest rate offer is by <strong><strong><strong>Suryoday Small Finance Bank<\/strong><\/strong><\/strong><\/span> <strong><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">at 7.10%&nbsp;<\/span><\/strong><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">For <strong>5 Years RD<\/strong> duration the best interest is offered at <strong>7.25% by <strong>Suryoday Small Finance Bank<\/strong><\/strong><\/span><\/li><li><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">For <strong>5+ Years RD<\/strong> duration the best interest is offered at <strong>6.75% by <strong>Utkarsh Small Finance Bank<\/strong><\/strong><\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Best Recurring Deposit Interest Rates from Traditional Banks<\/h3>\n\n\n\n<ul id=\"block-0574cc99-73a5-4333-af42-43f6e35aad60\"><li>For RD duration of <strong>1 Year Indus Ind Bank <\/strong>offers<strong> 6.50%<\/strong><\/li><li>For <strong>2 years Indus Ind Bank offers 6.50%<\/strong><\/li><li>For <strong>3&nbsp;to 4 Years<\/strong> the best interest rate offer is by <strong><strong>Yes Bank and DCB Bank<\/strong> at 6.50%&nbsp;<\/strong><\/li><li>For <strong>5 Years RD<\/strong> duration the best interest is offered at <strong>6.75% by Y<strong><strong>es Bank and DCB Bank<\/strong><\/strong><\/strong><\/li><li>For <strong>5+ Years RD<\/strong> duration the best interest is offered at <strong>6.75% by <strong>Y<strong>es Bank<\/strong><\/strong><\/strong><\/li><li>The <strong>Post Office offers <a href=\"https:\/\/www.apnaplan.com\/post-office-rd-interest-rate\/\">5 Year Recurring Deposit Scheme<\/a> offering 5.80%<\/strong> interest rate.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-d22e1a86\"><h4 class=\"uagb-notice-title\"><strong><strong>Get Highest Fixed Deposit Interest Rates<\/strong><\/strong><\/h4><div class=\"uagb-notice-text\"><p>Fixed Deposit with Banks is one of the most popular and convenient investment option. To help you choose the best, we <a href=\"http:\/\/www.apnaplan.com\/senior-citizens-savings-scheme\/\">compare the interest rates on fixed deposit across all major 48 banks in India including government, private, foreign and small financial banks<\/a> in India every month. This may prove to be quite handy for you in <a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">choose the Best Bank FD scheme<\/a>.<\/p><\/div><\/div>\n\n\n\n<p>The table below gives the&nbsp;Interest Rates sorted by Bank Name. The best interest rates for all duration have been <span style=\"background-color: #ffcc00;\">highlighted<\/span>.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th>Bank<\/th><th class=\"has-text-align-center\" data-align=\"center\">Type of Bank<\/th><th class=\"has-text-align-center\" data-align=\"center\">1 Year<\/th><th class=\"has-text-align-center\" data-align=\"center\">2 Years<\/th><th class=\"has-text-align-center\" data-align=\"center\">3 years<\/th><th class=\"has-text-align-center\" data-align=\"center\">4 Years<\/th><th class=\"has-text-align-center\" data-align=\"center\">5 Years<\/th><th class=\"has-text-align-center\" data-align=\"center\">5+ years<\/th><\/tr><\/thead><tbody><tr><td>AU Small Finance Bank <\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.35%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><\/tr><tr><td>Axis Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><\/tr><tr><td>Bandhan Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Bank of Baroda<\/td><td class=\"has-text-align-center\" data-align=\"center\">Post Office<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>Bank of India<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><\/tr><tr><td>Bank of Maharashtra<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><\/tr><tr><td>Canara Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.20%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Capital Small Finance Bank <\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><\/tr><tr><td>Catholic Syrian Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><\/tr><tr><td>Central Bank of India<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><\/tr><tr><td>Citibank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Foreign<\/td><td class=\"has-text-align-center\" data-align=\"center\">2.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">3.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><\/tr><tr><td>City Union Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>DCB Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.80%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><\/tr><tr><td>Deutsche Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Foreign<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><\/tr><tr><td>Dhanalakshmi Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.60%<\/td><\/tr><tr><td>Digibank by DBS<\/td><td class=\"has-text-align-center\" data-align=\"center\">Foreign<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Equitas Small Finance Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.65%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.65%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.40%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.40%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.65%<\/span><\/td><\/tr><tr><td>ESAF Small Finance Bank <\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Federal Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Fincare Small Finance Bank <\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><\/tr><tr><td>HDFC Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>ICICI Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>IDBI Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>IDFC First Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">6.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>Indian Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><\/tr><tr><td>Indian Overseas Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.20%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>Indus Ind Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><\/tr><tr><td>J&amp;K Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.20%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><\/tr><tr><td>Jana Small Finance Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><\/tr><tr><td>Karnataka Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.70%<\/td><\/tr><tr><td>Karur Vysya Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.65%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.65%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><\/tr><tr><td>Kotak Mahindra Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><\/tr><tr><td>Nainital Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.35%<\/td><\/tr><tr><td>North East Small Finance Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><\/tr><tr><td>Post Office 5 Year RD<\/td><td class=\"has-text-align-center\" data-align=\"center\">Post Office<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.80%<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><\/tr><tr><td>Punjab and Sind Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.15%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><\/tr><tr><td>Punjab National Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.25%<\/td><\/tr><tr><td>Ratnakar Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.10%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.10%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.30%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.30%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.30%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.00%<\/span><\/td><\/tr><tr><td>South Indian Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.65%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>Standard Charted Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Foreign<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><td class=\"has-text-align-center\" data-align=\"center\">x<\/td><\/tr><tr><td>State Bank of India<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.40%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.10%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.40%<\/td><\/tr><tr><td>Suryoday Small Finance Bank <\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.10%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.10%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">7.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><\/tr><tr><td>Tamilnad Mercantile Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.75%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.65%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><\/tr><tr><td>UCO Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.90%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.00%<\/td><\/tr><tr><td>Ujjivan Small Finance Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\">5.80%<\/td><\/tr><tr><td>Union Bank of India<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.50%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.55%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.60%<\/td><\/tr><tr><td>Utkarsh Small Finance Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Small Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><\/tr><tr><td>Yes Bank<\/td><td class=\"has-text-align-center\" data-align=\"center\">Private<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.00%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.25%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.50%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"background-color:#fcb900\" class=\"tadv-background-color\">6.75%<\/span><\/td><\/tr><\/tbody><\/table><figcaption><strong>Best Recurring Deposit Interest Rates &#8211; June 2021<\/strong><\/figcaption><\/figure>\n\n\n\n<p><strong>Disclaimer:<\/strong>&nbsp;<em>The Recurring&nbsp;Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your RD.<\/em><\/p>\n\n\n\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-cb50ab0a\"><h4 class=\"uagb-notice-title\"><strong>Should you Invest in Gold?<\/strong><\/h4><div class=\"uagb-notice-text\"><p>We looked at more than 55 years history of gold to see if its a good idea to invest in Gold. We concluded that its more volatile than perceived but investing in long term may provide you with more stable returns. You can look at the complete analysis and our conclusion <a href=\"https:\/\/www.apnaplan.com\/gold-price-in-india-40-years-history\/\" class=\"rank-math-link\">here &#8211; Looking at Gold Price History in India \u2013 Should you Invest in Gold?<\/a><\/p><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Calculate RD Interest<\/h2>\n\n\n\n<p>The interest on bank&#8217;s Recurring Deposit is compounded quarterly and is computed using the formula below.<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>M=R&#91;(1+i) (n-1)]\/1-(1+i)(-1\/3))\n\nWhere, M = Maturity value\nR = Monthly Instalment &#91;60 for Post office RD]\nN = number of quarters (tenure) &#91;20 for Post office RD]\ni = Rate of interest\/400<\/code><\/pre>\n\n\n\n<h2 class=\"wp-block-heading\">Helpful Posts on Recurring Deposits<\/h2>\n\n\n\n<ul class=\"has-pale-ocean-gradient-background has-background\"><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Which bank offers Highest Interest Rate on Bank FD?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">13 Most Important things to know before investing in Bank Fixed Deposits<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Section 80TTB: Senior Citizens can Save Tax on their Interest Income<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">TDS threshold on Bank FD increased to Rs 40,000 from April 1, 2019&nbsp;<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Avoid TDS: fill Form 15G and 15H<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Small Bank FDs offer interest up to 9% &#8211; Should you invest?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">How SWP in Debt Funds generate higher returns than FD<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">How to increase bank deposit insurance through Joint accounts?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">How Safe is Your Fixed Deposit in Bank?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">How you loose Money in Fixed Deposits?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Fixed Deposits that you can use to save Tax&nbsp;<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Fixed Deposits for NRIs<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Highest Interest Rate on Recurring Deposits<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Understanding Compounding and Yield in Fixed Deposit<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">How to get&nbsp;Credit card against Fixed Deposit?<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">7 High Rated Companies Offering more than Bank Fixed Deposits<\/a><\/li><li><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">All about Post Office FD Schemes<\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Who should open Recurring Deposit Account?<\/h2>\n\n\n\n<p>Recurring Deposit suits <strong>people with regular income and who want to accumulate a fixed amount for certain time frame.<\/strong> An example could be if you want to buy car in next 2 years, you can easily open a RD account with any leading bank and start saving. If you deposit Rs 5,000 every month for 2 years at 7%, you would get about Rs 1,29,000 at maturity. This would be good for downpayment of the car.<\/p>\n\n\n\n<p>It\u2019s also for people<strong> who do not have lump sum amount to take advantage of high interest rates.<\/strong> An example is in March 2013 SBI was offering 9% interest rate on their recurring deposits for 10 years. I had opened a RD with Rs 5,000 just to lock a high interest rate for 10 years. On maturity I would get about Rs 9.7 lakhs &#8211; which is good accumulated amount. As of today SBI is offering 5.4%. So I have a good investment. It&#8217;s always good idea to lock when interest rate cycle reverses and it goes high. <\/p>\n\n\n\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-a74649e4\"><h4 class=\"uagb-notice-title\"><strong>Do you Know about Hidden Charges in Banks?<\/strong><\/h4><div class=\"uagb-notice-text\"><p>Do you know you pay a few thousand rupees every year to hidden charges of banks. This could range from more known fines for not maintaining minimum balance amount to lesser know <a href=\"https:\/\/www.apnaplan.com\/do-you-know-posdec-chg-in-icici-bank-statement\/\" class=\"rank-math-link\">POSDEC charge of ICICI Bank<\/a>. There could be charges for ATM usage, branch visits, cheque books and so on. Do read our article on <a class=\"rank-math-link\" href=\"https:\/\/www.apnaplan.com\/charges-saving-bank-account\/\">Hidden Charges in Banks and what you can do about it?<\/a><\/p><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Recurring Deposit or Fixed Deposit?<\/h2>\n\n\n\n<p>A question I am often asked is what is the difference between recurring deposit and fixed deposit. Both products have quite a similarity in terms of following:<\/p>\n\n\n\n<ul><li>Both are offered by all banks<\/li><li>the interest rates are similar or close<\/li><li>the tax on interest earned is same for both RD &amp; FD. Also TDS is applicable on both the cases.<\/li><\/ul>\n\n\n\n<p>In spite of all the similarities between FD &amp; RD, they are meant for different kind of goals and suits different people and situations. In case you already have lump sum amount available go with FD as you start getting interest on entire investment from day 1. RD is more suited for regular savings and helps you accumulate a large amount over period of time.<\/p>\n\n\n\n<div class=\"wp-block-image size-large wp-image-11806\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"555\" src=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-1024x555.png\" alt=\"Recurring Deposit Interest Rates\" class=\"wp-image-12126\" title=\"\" srcset=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-1024x555.png 1024w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-300x163.png 300w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-768x417.png 768w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates.png 1143w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption><strong>Recurring Deposit Interest Rates<\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Tax on Recurring Deposit Interest Rates<\/h2>\n\n\n\n<p><strong>In case of RD the interest received&nbsp;is added to the income and taxed at marginal tax slab<\/strong>. <span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\"><strong>TDS (Tax deduction at source) at the rate of 10%<\/strong> (started from June 2015) is deducted, if the interest income is more than Rs 40,000 in financial year per bank (<a href=\"https:\/\/www.apnaplan.com\/budget-2019-key-changes-income-tax-rules\/\">changed from Rs 10,000 limit in Budget 2019<\/a>).&nbsp;<\/span>In case of <a href=\"https:\/\/www.apnaplan.com\/changes-tax-rules-fy2018-19\/\" class=\"rank-math-link\">Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000.&nbsp;<\/a>This interest would be added across all branches of a bank and across all RDs\/FDs for a customer to calculate the TDS. The TDS is 20% in case the bank does not have your PAN number.<\/p>\n\n\n\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__outer-wrap uagb-inline_notice__align-left uagb-block-d662b641\"><h4 class=\"uagb-notice-title\"><strong>Additional Tax Exemption for Senior Citizens on Interest Income<\/strong><\/h4><div class=\"uagb-notice-text\"><p>Budget 2018 introduced a new section <a href=\"https:\/\/www.apnaplan.com\/sec-80ttb\/\">80TTB, which gives additional tax exemption up to Rs 50,000 to Senior Citizens<\/a> for interest income. <strong>Additionally, the threshold for TDS (Tax Deduction at Source) on interest income for Senior Citizens has been raised from Rs 10,000 to Rs 50.000 from FY 2018-19<\/strong>.\u00a0 In case your income is less than the income tax threshold you can<a href=\"https:\/\/www.apnaplan.com\/how-fill-form-15g-15h\/\">\u00a0avoid TDS by filling and submitting Form 15H to relevant banks and financial institutions<\/a>.<\/p><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Recurring Deposit Interest Rates FAQs<\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1594466814779\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705Which is the best recurring deposit scheme in India?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes Bank and DCB Bank offers 6.75% for 3 years to 10 years recurring deposit.<br \/> Suryoday Small Finance Bank &amp; Jana Small Finance Bank offers 7.25% for 3 to 5 years recurring deposit.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594466914049\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705What is the top Recurring Deposit Interest Rates for 1 to 2 years in banks?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>For RD duration of 1 Year Indus Ind Bank offers 6.50% while For RD duration of 1 Year Jana Small Finance Bank offers 7.00%.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594466980727\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705What is the top Recurring Deposit Interest Rates for 5 years in banks?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>For 5 Years RD duration the best interest is offered at 7.25% by Suryoday Small Finance Bank &amp; Jana Small Finance Bank. For 5 Years RD duration the best interest is offered at 6.75% by Yes Bank and DCB Bank<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594467062619\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705What is the maximum tenure of bank recurring deposits?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Most banks offer RD for 6 months to 10 years.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594467064171\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705Are Bank Recurring Deposit safe?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Generally speaking bank FDs\/RDs are safe as banks are rigorously monitored by RBI. The FD in Government owned banks like <a href=\"https:\/\/www.sbi.co.in\/web\/interest-rates\/deposit-rates\/retail-domestic-term-deposits\" target=\"_blank\" aria-label=\"SBI (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"rank-math-link\">SBI<\/a>, PNB are the safest. This is because government would intervene and pay the depositors. Next is big private banks like ICICI &amp; HDFC followed by smaller private banks. After this we have <a href=\"https:\/\/www.apnaplan.com\/fd-interest-rates-small-bank\/\">small finance banks<\/a>. Co-operative banks are worst of the lot and I would not trust them with my money. So until there are compelling circumstances keep away from co-operative banks. You can learn from recent example where Yes Bank was rescued by the government and no depositors suffered. However depositors of PMC Bank (a co-operative bank) are still suffering. You can learn more about this in our detailed article about <a href=\"https:\/\/www.apnaplan.com\/how-safe-is-your-bank-fixed-deposit\/\">How safe is your Bank Fixed Deposit?<\/a><\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594467064982\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705How is interest on Recurring Deposit taxed?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The interest earned on recurring deposit is taxable as per your <a href=\"https:\/\/www.apnaplan.com\/income-tax-slabs-2020-21\/\">income tax slab<\/a>. For <a href=\"https:\/\/www.apnaplan.com\/sec-80ttb\/\">senior citizens an additional exemption of Rs 50,000 under section 80TTB<\/a> is available for interest income from banks\/post office.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1594467182703\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">\u2705Can I get loan on my Recurring deposit?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes most banks offer loans up to 90% to 95% of recurring deposit balance.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>We compare the Recurring Deposit Interest Rates \ud83d\udcb0 across 48 major banks in India to bring out the top RDs from banks. The highest RD interest rates is offered by <\/p>\n","protected":false},"author":1,"featured_media":12126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1589,30,3013],"tags":[2493,2494,2495,2934,2496,2497,2498,2499,2500,2501,3042,2502,2503,2504,2505,3043,2506,2507,2508,2509,2510,2943,2511,2512,2513,2514,2515,2516,2517,2518,2519,2520,2540,2521,2522,2537,2538,2539,2523,3044,2524,2525,2526,2527,2528,2529,2530,2531,2532,2533,2534,2535,2536],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates.png",1143,620,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-300x163.png",300,163,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-768x417.png",768,417,true],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates-1024x555.png",1024,555,true],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates.png",1143,620,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates.png",1143,620,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2021\/04\/Recurring-Deposit-Interest-Rates.png",120,65,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":97,"uagb_excerpt":"We compare the Recurring Deposit Interest Rates \ud83d\udcb0 across 48 major banks in India to bring out the top RDs from banks. The highest RD interest rates is offered by","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/5603"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=5603"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/5603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/12126"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=5603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=5603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=5603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}