Question: Which Bank Offers Best Rd Rates?

Here are some banks that offer the best interest rates for RD schemes: Deutsche Bank gives 8.00% p.a.

for 5-year deposits, which is one of the best RD rates in India.

For 1-year tenure, Lakshmi Vilas Bank offers the highest returns, at 7.75% p.a., followed by IndusInd Bank at 7.60%.

Which bank gives best Rd rates?

Recurring Deposit Interest Rates Comparison, Jul 2019, Best rates

BankInterest RatesSenior Citizen Rates
Bandhan Bank6.40% – 7.55%7.15% – 8.30%
RBL Bank7.15% – 8.05%7.65% – 8.55%
Corporation Bank6.50% – 6.80%7.00% – 7.30%
Karur Vysya Bank6.75% – 7.00%6.75% – 7.50%

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Which bank is best for opening Rd?

Best Banks To Open A Recurring Deposit

  • Axis Bank. Axis Bank one of the largest private-sector banks in India.
  • ICICI Bank. ICICI Bank is an Indian multinational banking and financial services company which offers recurring deposits with a minimum period of 6 months and thereafter in multiples of 3 months.
  • HDFC Bank.
  • Kotak Mahindra Bank.
  • Syndicate Bank.

Which RD is better post office or bank?

Recurring deposits (RD) account is the best option for such investors. An RD account can be opened with a bank or a Post Office. Both State Bank of India (SBI) and Post Office offer RD options to their customers.

In which Bank Rd interest is high?

RD Calculator

BankInterest RatesRD Tenure
HDFC Bank Recurring Deposit6.25% – 7.40%6 Months – 120 Months
ICICI Bank Recurring Deposit6.25% – 7.50%6 Months – 10 Years
Axis Bank7.00% – 7.60%9 Months – 10 Years
Kotak Bank6.50% – 7.30%12 Months – 10 Years

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Which bank is best for RD 2019?

Here are some banks that offer the best interest rates for RD schemes: Deutsche Bank gives 8.00% p.a. for 5-year deposits, which is one of the best RD rates in India. For 1-year tenure, Lakshmi Vilas Bank offers the highest returns, at 7.75% p.a., followed by IndusInd Bank at 7.60%.

Is Rd better than FD?

As you can see, after a year you will receive Rs 26324 in a fixed deposit while in RD you will receive Rs 25195. So the recurring deposit earns you Rs 1039 less than a fixed deposit.. The primary reason for this difference is that in FD you invest a lumpsum amount and so the entire money earns interest for one year.

Can I deposit extra money in RD?

The interest charged on such loans is also lower than that of a personal loan – usually no more than 1% of the deposit rate the bank is paying on the RD. Investors are eligible for tax exemption on Recurring Deposits only if they invest in an RD through India post, and in a 5-year scheme (at least).

Is RD tax free?

Banks Deduct TDS on your Fixed Deposits but not on Recurring Deposits. “No TDS on RD is charged,” this does not mean, it is a tax free income. The interest income earned on your RD is not exempted from income tax. It is taxable.

Which is best Rd?

Comparison of Bank Recurring Deposit Interest Rates

Bank Name1 Years3 Years
Post Office 5 Year RDNANA
Allahabad Bank6.75%6.50%
Andhra Bank6.80%6.75%
Axis Bank7.10%7.30%

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Is it good to open Rd account?

Provides good returns

In a Recurring Deposit scheme, the investor has to deposit a fixed sum every month, which will build up a savings discipline. For salaried customers, it is easier to set aside some portion of their salary each month to invest in an RD.

What is the interest rate in Post Office Rd?

-SBI RD interest rates vary between 6.4% and 6.85 % for regular customers whereas post office RDs offer a quite high interest rate of 7.3% per annum, compounding quarterly. -For an SBI RD account, the term of deposit may vary between 12 months and 120 months, but post office offer RDs for a tenure of 5 years only.

Which bank is best for savings account?

Best Bank to open Savings Account in India:

  1. HDFC Bank.
  2. ICICI Bank.
  3. Canara Bank.
  4. Union Bank.
  5. Bank of Baroda.
  6. Lakshmi Vilas Bank.
  7. IndusInd Bank.
  8. Bandhan Bank.