At present, people are adopting different methods for investment. Some people are investing money in the stock market, while some are investing in post office and bank schemes. Investing in no-risk schemes is also considered a good option, as your money remains safe in this. In such a situation, if you are also planning to invest, then RD scheme can be a better option for you. It is offered from the post office to many banks. Let us know who is currently giving how much return on RD.
For RD, a person has to deposit a fixed amount of his income every month for a specified period. After maturity, the principal amount along with the interest amount is refunded.
Post Office Recurring Deposit (RD) Interest Rates
India Post Office offers recurring deposits at an interest rate of 5.8 per cent for a fixed tenure of 5 years (60 months) for the July-September quarter of the current financial year. In the post office it can be extended for 5 years.
HDFC Bank RD Interest Rate
HDFC Bank offers RD facility from 6 months to 120 months, with interest rates ranging from 3.75 percent to 5.75 percent. The rate offered by HDFC Bank for tenures of 5 years or 60 months is 6.70 per cent.
ICICI Bank Recurring Deposit Interest
ICICI Bank RD facility is offered for tenures ranging from six months to ten years. The interest rate for ICICI Bank RDs with tenures of three to five years is 5.70 per cent, while for above that the rate is 5.75 per cent.
SBI RD Interest Rate
RD interest rates for minimum 12 months and maximum 120 months from SBI are same as fixed deposit rates. SBI offers 5.50 per cent interest on maturity of 5 years or more and 5.45 per cent on tenures of 3 to 5 years.