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


Recurring Deposit or 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. On maturity, the depositor is paid a lump-sum amount which includes his/her periodic investments and the interest income earned on them. Recently, big banks such as State Bank of India, HDFC Bank have revised their interest rates on both recurring deposits and fixed deposits. The revision in interest rates have come after the Reserve Bank of India hiked the repo rate – to 6.5 per cent.

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

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

Revised from July 30, 2018:

TermInterest rate for general public (% per annum)Interest rate for senior citizens (% per annum)
7 days to 45 days5.756.25
46 days to 179 days6.256.75
180 days to 210 days6.356.85
211 days to less than 1 year6.46.9
1 year to less than 2 year6.77.2
2 years to less than 3 years6.757.25
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35

Recurring deposit (RD) rates offered by HDFC Bank:


Revised from August 6, 2018:

PeriodInterest Rate (per annum)Senior Citizen Rates (per annum)Effective From
6 Months6.25%6.75%June 06,2018
9 Months6.75%7.25%August 06,2018
12 Months7.25%7.75%August 06,2018
15 Months7.25%7.75%August 06,2018
24 Months7.25%7.75%August 06,2018
27 Months7.10%7.60%August 06,2018
36 Months7.10%7.60%August 06,2018
39 Months7.10%7.60%August 06,2018
48 Months7.10%7.60%August 06,2018
60 Months7.10%7.60%August 06,2018
90 Months6.00%6.50%Jan 06,2017
120 Months6.00%6.50%Jan 06,2017

Recurring deposit (RD) rates offered by ICICI Bank:

Maturity PeriodRate of Interest w.e.f June 7, 2018
GeneralSenior Citizen
6 months6%6.5%
9 months6.25%6.75%
12 months6.6%7.1%
15 months6.75%7.25%
18 months6.75%7.25%
21 months6.75%7.25%
24 months6.75%7.25%
27 months7%7.5%
30 months7%7.5%
33 months7%7.5%
36 months7%7.5%
Above 3 years upto 5 years7%7.5%
Above 5 years upto 10 years7%7.5%

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.

Source: NDTV Profit