Bank RD Interest Rate: There are many people who do not want to take any kind of risk, hence they look for safe investments where they get guaranteed returns. If you are also looking for such a scheme, then Recurring Deposit i.e. RD can be a better option for you.
Bank RD Interest Rate: If you want to invest small amounts and avail better interest on them, then you have options like SIP and RD. In both, you can avail the benefit of interest by depositing a fixed amount every month. But SIP is not a scheme with guaranteed returns because it is market linked. However, the average return in SIP is considered to be 12 percent. But still there are many people who do not want to take any kind of risk, hence they look for safe investments where they get guaranteed returns.
If you are also looking for such a scheme, then Recurring Deposit i.e. RD can be a better option for you. You can avail RD facility from all banks and post offices. In banks, RD can be started for 1 year to 10 years, whereas in post office you have to invest in RD for 5 years. You can get good interest on RD in banks even in short time. Know here how much interest is being received on RD for 1 to 5 years.
Interest on one year RD
SBI – 6.80%
HDFC – 6.60%
ICICI – 6.70%
Kotak Mahindra – 7.10%
On two years RD
SBI – 7.00%
HDFC – 7.00%
ICICI – 7.10%
Kotak Mahindra – 7.15%
On three years RD
SBI – 6.50%
HDFC – 7.00%
ICICI – 7.00%
Kotak Mahindra – 7.00%
On five year RD
SBI – 6.50%
HDFC – 7.00%
ICICI – 7.00%
Kotak Mahindra – 6.20%
Post Office – 6.70%
Where will you get how much benefit?
If you make RD for one year or two years, you will get good interest in Kotak Mahindra Bank. Here 7.10% interest is available on one year RD and 7.15% interest on two year RD. Whereas in 3 years RD, HDFC, ICICI and Kotak Mahindra will get equal interest at the rate of 7.00%. You can get RD done anywhere as per your convenience. There is benefit in getting RD done in HDFC, ICICI Bank for 5 years. Here also interest will be available at the rate of 7.00% on RD of 5 years.
