Most major banks in India offer RDs with a term that often ranges between 6 months to 10 years.
SBI RD rates
SBI has hiked interest rates on RDs effective 22 October. The bank offers an interest rate ranging from 6.10% to 6.25% on RDs maturing in 1 year to 10 years.
1 year to less than 2 years - 6.10
2 years to less than 3 years - 6.25
3 years to less than 5 years - 6.10
5 years and up to 10 years - 6.10
HDFC Bank RD rates
HDFC Bank has hiked its interest rates on recurring deposits (RDs) across all tenors. On deposits maturing in 6 months, the bank gives 4.50% and on deposits maturing in 9 months, HDFC Bank gives 5.25%. Deposits maturing in 12 months will now fetch an interest rate of 6.10%, and those maturing in 15 Months to 24 Months will now fetch an interest rate of 6.15%. Deposits maturing in 90 Months to 120 Months will now fetch an interest rate of 6.20%. These rates are effective 26 October.
ICICI Bank RD rates
ICICI Bank offers RD ranging from 6 months to 10 years. These deposits will fetch you an interest of 6 months 4.25% to 6.20% depending upon the tenor you choose. These rates are effective 18 October. “Recurring Deposits will be available for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years," the lender mentioned on its site.
