RD Investments: Are you planning to start a regular investment scheme this Dhanteras and Diwali? If you don’t have a lot of money at once, but you want to invest every month from your salary or savings, then recurring deposits can be beneficial for you. A fixed amount is invested every month in recurring deposits. Pre-fixed interest is available on every monthly investment. It works like a Systematic Investment Plan (SIP). According to Bankbazaar.com, the major banks of the country are offering so much interest on recurring deposits.
1 DCB Bank
DCB Bank is offering 7.6 percent interest on 5 year RD. This rate is available on RD below Rs 2 crore.
2 Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering customers 7.25 percent interest on 5 to 10 year RD. Senior citizens are being given interest at the rate of 7.5 percent.
3 Ujjivan Small Finance Bank
Investors can get 7.2 percent interest on RD for a tenure of 36 to 60 months. 6.5 percent interest is being paid on FDs maturing in 63 to 120 months.
The bank is offering 7.25 percent interest on RDs that will mature in 60 months
5 IndusInd Bank
The bank offers 7 percent interest on recurring deposits of 61 months or more. Senior citizens are getting 50 basis points i.e. 0.50 percent additional interest.
6 Axis Bank
Axis Bank offers 7 percent interest on 5-year RD. Senior citizens will be given 0.75 percent interest on RDs above Rs 5 crore.
7 HDFC Bank
HDFC Bank is offering 7 percent interest on 5-year RDs maturing in 5 years Senior citizens will be paid 7.50 percent interest.