RD interest rate up to 7.75%: Recurring Deposits (RD) offer individuals a disciplined way to save money regularly while earning interest

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.

ET Year-end Special Reads

Buying a home in 2025? Here's how property market can shape up

18 top stock picks for 2025 from 6 leading brokers

Five big bangs that shook the corporate world in 2024

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 → Years	3	4	5	6	7	8	9	10
General Public	6.75%	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

• Artificial Intelligence(AI)

  Java Programming with ChatGPT: Learn using Generative AI

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Artificial Intelligence(AI)

  Basics of Generative AI: Unveiling Tomorrows Innovations

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Artificial Intelligence(AI)

  Generative AI for Dynamic Java Web Applications with ChatGPT

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Artificial Intelligence(AI)

  Mastering C++ Fundamentals with Generative AI: A Hands-On

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Artificial Intelligence(AI)

  Master in Python Language Quickly Using the ChatGPT Open AI

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Marketing

  Performance Marketing for eCommerce Brands

  By - Zafer Mukeri, Founder- Inara Marketers

  View Program

• Office Productivity

  Zero to Hero in Microsoft Excel: Complete Excel guide 2024

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Finance

  A2Z Of Money

  By - elearnmarkets, Financial Education by StockEdge

  View Program

• Marketing

  Modern Marketing Masterclass by Seth Godin

  By - Seth Godin, Former dot com Business Executive and Best Selling Author

  View Program

• Astrology

  Vastu Shastra Course

  By - Sachenkumar Rai, Vastu Shashtri

  View Program

• Strategy

  Succession Planning Masterclass

  By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.

  View Program

• Data Science

  SQL for Data Science along with Data Analytics and Data Visualization

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Artificial Intelligence(AI)

  AI and Analytics based Business Strategy

  By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI

  View Program

• Web Development

  A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Marketing

  Digital Marketing Masterclass by Pam Moore

  By - Pam Moore, Digital Transformation and Social Media Expert

  View Program

• Artificial Intelligence(AI)

  AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Office Productivity

  Mastering Microsoft Office: Word, Excel, PowerPoint, and 365

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Marketing

  Digital marketing - Wordpress Website Development

  By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert

  View Program

• Office Productivity

  Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Web Development

  Mastering Full Stack Development: From Frontend to Backend Excellence

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

• Finance

  Financial Literacy i.e Lets Crack the Billionaire Code

  By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator

  View Program

• Data Science

  SQL Server Bootcamp 2024: Transform from Beginner to Pro

  By - Metla Sudha Sekhar, IT Specialist and Developer

  View Program

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 Months	4.50%
9 Months	5.75%
12 Months	6.60%
15 Months	7.10%
18 Months	7.25%
21 Months	7.00%
24 Months	7.00%
27 Months	7.00%
30 Months	7.00%
33 Months	7.00%
36 Months	7.00%
39 Months	7.00%
42 Months	7.00%
45 Months	7.00%
48 Months	7.00%
60 Months	7.00%
90 Months	7.00%
120 Months	7.00%

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 Period	Rate of Interest (% p.a.) w.e.f 02 August, 2024
	General
6 months	4.75%
9 months	6.00%
12 months	6.70%
15 months	7.25%
18 months	7.25%
21 months	7.25%
24 months	7.25%
27 months	7.00%
30 months	7.00%
33 months	7.00%
36 months	7.00%
Above 3 years upto 5 years	7.00%
Above 5 years upto 10 years	6.90%

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.

Period	Resident Recurring Deposit Rates
	Interest Rate
	(%P.A.)
6 Months	6.10%
9 Months	6.35%
12 Months	7.25%
15 Months	7.50%
18 Months	7.75%
21 Months	7.75%
24 Months	7.25%
27 Months	7.25%
30 Months	7.25%
33 Months	7.25%
36 Months to < 60 Months	7.25%
60 Months	7.25%
60 Months 1 day and above	7.00%

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.

This story originally appeared on: India Times - Author:Faqs of Insurances