HDFC vs ICICI vs IndusInd vs RBL Vs Kotak vs Yes Bank: Check RD Rates

A recurring deposit (RD) is a sort of debt funding that enables people to arrange a fund for their very own funds frequently. Unlike a set deposit, which requires a lump-sum deposit to create an account, an RD lets you make investments on a month-to-month foundation, just like a mutual fund SIP, and obtain rates of interest which can be akin to fastened deposits. You can’t solely earn good returns in your RD by making month-to-month deposits, however you can too handle your emergency fund extra successfully by not parking a lump sum quantity without delay. RD, like different deposit merchandise, is insured by DICGC as much as ₹5 lakhs, minimizing deposit safety threat to nearly zero. Because rates of interest are rising, now could be the perfect time to create an RD account. Here are the banks which have raised their recurring deposit rates of interest promptly after the RBI raised the repo charge to 4.90 per cent.

HDFC Bank

On seventeenth June 2022, HDFC Bank made rate of interest revisions on RDs throughout chosen tenors. The financial institution is now providing a most rate of interest of 5.75% to common prospects and 6.50% to senior residents on recurring deposits.

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HDFC Bank RD Rates (hdfcbank.com)

ICICI Bank

ICICI Bank permits RD for a tenure starting from 6 months to 10 years. On sixteenth June 2022, ICICI Bank revised rates of interest on recurring deposits and now gives a most rate of interest of 5.75% to non-senior residents and 6.50% to senior residents.

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ICICI Bank RD Rates (icicibank.com)

IndusInd Bank

IndusInd Bank permits RD for a tenure starting from 9 months to 61 months and above. On 1st June 2022, the financial institution revised rates of interest on recurring deposits following which most of the people will now get a most charge of 6.50% and senior residents will get a most return of seven%.

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IndusInd Bank RD Rates (indusind.com)

RBL Bank

With tenure starting from 7 days to 240 months, RBL Bank permits opening an RD account. On eighth June 2022, RBL Bank revised rates of interest on recurring deposits. On RDs maturing in 24 months to lower than 36 months, RBL Bank gives a most common charge of 6.50% and seven% to senior residents.

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RBL Bank RD Rates (rblbank.com)

Kotak Mahindra Bank

Kotak Mahindra Bank permits recurring deposits for a tenure starting from 6 months to 10 years. On tenth June 2022, the financial institution revised rates of interest on RDs and now most of the people will get a most charge of 5.90% and 6.40% for senior residents.

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Kotak Bank RD Rates (kotak.com)

Yes Bank

Yes Bank revised recurring deposit rates of interest on 18th June 2022 and now gives a most return of 6.50% to most of the people and seven.25% to senior residents.

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Yes Bank RD Rates (yesbank.in)

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