RD interest rate up to 7.75%: Comparison of SBI’s Har Ghar Lakhpati RD interest rates with interest rates on HDFC Bank, Canara Bank, ICICI, Yes Bank RDs Here's how interest rates offered on SBI's RDs compare with those on RDs of other leading banks like HDFC, Canara Bank, ICICI, Yes Bank, and Punjab National Bank (PNB) for general citizens
State Bank of India (SBI) has launched an innovative recurring deposit product, "Har Ghar Lakhpati" (HGL). This scheme allows individuals to save systematically and accumulate up to Rs 1 lakh monthly upon maturity by investing a specific amount for a specific tenure.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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What is recurring deposit account
Recurring Deposits (RD) offer individuals a disciplined way to save money regularly while earning interest. According to the HDFC Bank, "An RD account is a deposit account where you deposit a fixed sum of money each month. The monthly fixed amount and tenure are determined by you, while you open the account. The fixed amount you deposit each month earns interest which is compounded quarterly. This systematic approach to savings makes RDs an excellent option for those looking to build savings gradually."Here's how interest rates offered on SBI's RDs compare with those on RDs of other leading banks like HDFC, Canara Bank, ICICI, Yes Bank, and Punjab National Bank (PNB) for general citizens.
SBI Har Ghar Lakhpati RD Interest Rates
SBI offers a maximum interest rate of 6.75% for tenures of 3 and 4 years under its "Har Ghar Lakhpati" scheme. For other tenures, the interest rate is 6.50%.Period → Years345678910General Public6.75%6.75%6.50%6.50%6.50%6.50%6.50%6.50%SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens: Check details here
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HDFC Bank RD Interest Rates
HDFC Bank provides interest rates ranging from 4.50% to 7.25% for tenures between 6 months and 10 years. The highest rate of 7.25% is applicable for a tenure of 18 months, while a rate of 7.10% applies for 15 months.Period
Interest Rate (per annum)6 Months4.50%9 Months5.75%12 Months6.60%15 Months7.10%18 Months7.25%21 Months7.00%24 Months7.00%27 Months7.00%30 Months7.00%33 Months7.00%36 Months7.00%39 Months7.00%42 Months7.00%45 Months7.00%48 Months7.00%60 Months7.00%90 Months7.00%120 Months7.00%
ICICI Bank RD Interest Rates
ICICI Bank offers interest rates between 4.75% and 7.25%, with the highest rate of 7.25% available for tenures of 15, 18, 21, and 24 months.Maturity PeriodRate of Interest (% p.a.) w.e.f 02 August, 2024General6 months4.75%9 months6.00%12 months6.70%15 months7.25%18 months7.25%21 months7.25%24 months7.25%27 months7.00%30 months7.00%33 months7.00%36 months7.00%Above 3 years upto 5 years7.00%Above 5 years upto 10 years6.90%
Yes Bank RD Interest Rates
Yes Bank provides interest rates between 6.10% and 7.75% for tenures ranging from 6 months to 10 years. The maximum rate of 7.75% is offered on 18 and 21 month tenures.PeriodResident Recurring Deposit RatesInterest Rate(%P.A.)6 Months6.10%9 Months6.35%12 Months7.25%15 Months7.50%18 Months7.75%21 Months7.75%24 Months7.25%27 Months7.25%30 Months7.25%33 Months7.25%36 Months to 7.25%60 Months7.25%60 Months 1 day and above7.00%
Punjab National Bank
Punjab National Bank offers the same interest rate as FD interest rates, with interest rates ranging from 6.00% to 7.25%. The highest rate of 7.25% is applicable for a tenure of 400 days.Canara Bank RD Interest Rates
Canara Bank aligns its RD rates with FD rates, offering 5.50% to 7.30% for tenures between 6 months and 10 years. The highest rate of 7.30% is available for a specific tenure of 444 days. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}This story originally appeared on: India Times - Author:Faqs of Insurances
