RD Interest Rate: RD i.e. Recurring Deposit is a very popular savings scheme of today’s time. Under this scheme, any person can deposit a certain amount every month and after a certain time can get a good amount with interest.
On the other hand, if we talk about interest, then different banks give different interest rates. Apart from this, let us tell you that the interest rates also depend on the bank and the period chosen by you. So let us tell you how much interest banks like SBI, HDFC Bank, Yes Bank, PNB pay on RD. And which bank will give you the highest interest.
State Bank of India offers interest rates ranging from 6.25 to 6.75 per cent for tenures ranging from 12 months to 120 months. Whereas, the minimum monthly deposit is Rs.100. (After this investment can be made in multiples of Rs 10. These rates are applicable from December 12, 2022. If six consecutive installments are not received, the account will be closed before maturity and the balance will be given to the account holder.
PNB Bank Interest Rate
PNB has interest rates ranging from 5.5 percent and up to 7.25 percent on recurring deposits ranging from 6 months to 10 years. These rates are applicable from 1 January 2023. RD will be paid after one month of depositing the last installment or on maturity.
HDFC Bank Interest Rate
Interest rates in HDFC Bank are fixed between 4.5 per cent to seven per cent for a period ranging from 6 months to 120 months. These rates are applicable from 14 December 2022.
Kotak Mahindra Bank Interest Rate
For the common people in the bank, the interest rates on RD ranging from 6 months to 10 years are fixed between 5.75 percent to 7 percent. These rates are applicable from January 4, 2023.
Yes Bank Interest Rate
In Yes Bank, the interest rate in RD ranging from 6 months to 10 years is fixed in the range of 5.75 to 7.50 percent . These rates are applicable from 3 January 2023.
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