Keeping your money only in a savings account will give you a very low rate of interest. When you want to use money with some intervals and do not want to invest it in fixed deposits or high risk investment options like mutual funds or stocks, Recurring deposits is the best option for you.
In recurring deposits you can invest a specified amount of money each month and obtain a high rate of returns as compared to saving account.
Recurring Deposit Interest Rates Comparison Of SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank, Yes Bank
State Bank of India Recurring Deposit Interest Rates
State Bank of India offers recurring deposit interest rate between 6.50% to 7% on tenures from 1 year to 10 years. The highest interest rate is offered on the investment for the period of 2 years to less than 3 years. The rates are effective from December 27, 2023.
Canara Bank Recurring Deposit Interest Rates
Canara Bank provides recurring deposit interest rate between 6.85% to 7.25% for the period of 1 year to 10 years. Rate of interest is more when one invests for the period of 444 days. The rates are effective from November 16, 2023.
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Punjab National Bank Recurring Deposit Interest Rates
Punjab National Bank provides a recurring deposit interest rate between 6% to 7.25% for the period of 6 months to 10 years. The highest interest rate it offers is for the tenure of 400 days. The rates are effective from January 8, 2024.
HDFC Bank Recurring Deposit Interest Rates
HDFC Bank provides recurring deposit interest from 4.50% to 7.10% for the period of 6 months to 10 years. The highest rate of interest i offers is 7.10% for the investment up to a 15-month term. The rates are applicable from January 24, 2023.
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ICICI Bank Recurring Deposit Interest Rates
ICICI Bank provides recurring deposit interest rates between 4.75% to 7.10% for the period of 6 months to 10 years. The highest interest rate of interest it offers is 7.10% for the period of 15 months, 18 months, 21 and 24 months. The rates are applicable from February 24, 2023.
Yes Bank Recurring Deposit Interest Rates
Yes Bank provides recurring deposit interest rates from 6.10% to 7.75% for the period of 6 months to 10 years. The highest interest rate of interest it offers is 7.75% for the period of 18 months and 21 months. These rates are effective from November 21, 2023.
