| Bank | Interest Rate | Senior Citizen Rates |
|---|---|---|
| SBI Recurring Deposit | 6.25% - 6.40% | 6.75% - 6.90% |
| HDFC Bank Recurring Deposit | 6.25% - 7.40% | 6.75% - 7.90% |
| ICICI Bank Recurring Deposit | 6.25% - 7.50% | 6.75% - 8.00% |
| Axis Bank | 7.00% - 7.60% | 7.35% - 8.25% |
| Kotak Bank | 6.50% - 7.30% | 7.00% - 7.80% |
| IDFC First Bank | 6.75% - 7.25% | 7.25% - 7.75% |
| Bank of Baroda | 5.75% - 6.85% | 6.25% - 7.35% |
| Citibank | 6.00% - 7.50% | 6.50% - 8.00% |
| IDBI Bank | 6.00% - 7.05% | 6.50% - 7.55% |
| Indian Bank | 6.00% - 6.75% | 6.50% - 7.25% |
| Indian Overseas Bank | 5.75% - 6.80% | 6.25% - 7.30% |
| PNB | 6.25% - 6.75% | 6.75% - 7.25% |
| Allahabad Bank | 6.50% - 6.75% | 0.00% - 0.00% |
| Andhra Bank | 6.26% - 6.80% | 6.76% - 7.30% |
| Bank of India | 6.25% - 6.70% | 6.75% - 7.20% |
| Bank of Maharashtra | 6.00% - 6.60% | 6.50% - 7.10% |
| Canara Bank | 6.20% - 7.00% | 6.70% - 7.50% |
| Central Bank of India | 6.20% - 7.00% | 6.70% - 7.50% |
| Punjab and Sind Bank | 6.25% - 7.00% | 6.75% - 7.50% |
| UCO Bank | 6.70% - 6.75% | 0.00% - 0.00% |
| Union Bank of India | 6.50% - 6.85% | 7.00% - 7.35% |
| Lakshmi Vilas Bank | 6.50% - 8.00% | 7.00% - 8.60% |
| Yes Bank | 7.00% - 7.25% | 7.50% - 7.75% |
| Syndicate Bank | 6.50% - 6.80% | 7.00% - 7.30% |
| South Indian Bank | 6.50% - 7.60% | 7.00% - 8.10% |
| Bandhan Bank | 6.40% - 7.55% | 7.15% - 8.30% |
| RBL Bank | 7.15% - 8.05% | 7.65% - 8.55% |
| Corporation Bank | 6.50% - 6.80% | 7.00% - 7.30% |
| Karur Vysya Bank | 6.75% - 7.00% | 6.75% - 7.50% |
| IndusInd Bank | 7.25% - 8.00% | 7.75% - 8.50% |
| DHFL | 8.00% - 8.00% | 8.40% - 8.40% |
| DBS Bank | 5.75% - 7.50% | 5.75% - 7.50% |
Recurring Deposit is an investment which is offered by banks and other financial institutions. In Recurring Deposite you have to pay particular amount for every month at decided rate of interest for particular time duration. It is also called as RD calculartor.
| Input | Description |
|---|---|
| Amount Invested | It is the investment that you want to do on recurring deposit for every month till the end of your investment years |
| Expected Interest Rate | This is the percentage return per year at which you want to invest your amount for decided time duration |
| Frequency Type | It is the compounding frequency of times per year the total interest is paid |
| Time Duration | It can be number of years, number of months or number of days depending upon the frequency type |
| Output | Description |
|---|---|
| Amount Invested | This is your total investment till the end of your investing years |
| Interest Earned | This is the interest you will have by the end of investment years |
| Total Amount | This is the total amount you will receive which is sum of your total amount invested and the interest you will earn |
Unlinke FD investment, in RD deposite you can start investing with small amount for a pre-decided time duration at fixed rate of return (pre-decided). In RD deposite the rate of interest in fix which have already decided when investing for the first time.
Here is the formula of Recuuring Deposit: