Latest recurring deposit interest rates comparison in India (Updated July-2019)
In the last couple of months, banks have lowered the fixed deposit interest rates and latest recurring deposit interest rates. While comparing latest RD rates with various banks in India indicate that banks are still betting good business on recurring deposits, however offering competitive interest rates. Investment in recurring deposits in India is continued to be one of the best choice for several investors. Due to various features associate with it, these are continuously gaining momentum as investors believe these as a safe investment option. We are publishing the latest major banks recurring deposits interest rates month on month as part of creating awareness among investors to choose the best one instead of compromising and depositing with their current bank.
Latest recurring deposit interest rates comparison in India – November, 2018
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Suresh
Latest recurring deposit interest rates in India
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Hi suresh,
Thank you for all your posts.
I have question about RD(recurring deposit) in sbi. I have NRE account and NRO acc in sbi. I am planning to open RD account and put 25000 Rs a month for 10 years. My question is when I calculate online for 60 months it gives me around 18 laks back but when I calculate for 120 monts its giving me 46 laks return by RD calculator. Is it right amount that they are showing if i put it for 10 years (120 monts) With 8.75% interest rate.
Do u think is it right decision to put for that long period of time.
Do u think I should put in for RD or I should put in FD.
Thank you so much for your time Shresh.
Hi Ravi, The computations are correct. If you see my article on invest in bank deposits and become crorepathi, this is what I exactly said. It is the power of compounding money. But if you rae moderate risk taker, you can invest part in diversifed mutual funds or atleast debt mutual funds. Check that. Also I could not understand your question about RD and FD. FD’s are done for lumpsum amount and RD are done monthly for the period.
Hi Suresh
Would you sugest me where to be invest in recurring ac.
Pramod, You can invest in any bank for Recurring deposit. Best is to choose the highest RD rates and deposit them.
Hi Suresh,
Can you please help me out in giving your comments on the Salary structure – the best CTC structure and minimize the tax payed in the year.
The new proposed structure ok or should i need to reframe the structure in order to reduce the tax.
I already have LIC policy for 1 Lakhs and Housing Loan EMI – 34000/Month and i can show educational bills for my Son, with all these inputs can you suggest me the best possible structure
Thank you in advance
Hema
Hema, You have provided your entire salary structure which got jumbled and I am unable to read. It is not advisable to share such info in general messaging. Please give high level info what help you want. Alternative you can mail to my ID suresh@myinvestmentideas.com for your query.
Thanks for ur reply , will mail you the information in detail.
R/S,
I would to known that Is it any huge difference between RD Account or Saving Account final Maturity Amount ? After I deposit 5000 for 12 months.
Neeraj, There would be a differnce. When you open RD account for 12 months the rates are currently around 8% to 8.5% per annum. However savings account, the maximum rate is 7% is what I know.
Suresh Sir,
Actually I am confused which monthly plan is best for me. If I open RD account 5000/month for 12 months in 8% then the Maturity Amount is 62646.62, How calculates, only 2646.62 (4.41% interest/year) profit book per year ? In FD same amount and same Interest will give 64946 (profit is 4946) but it is one time deposit plan. Is it another option or monthly plan for gain higher profit ?
Please suggest me.
I agree your concern Neeraj. If you want to gain more, you should take medium to low risk investmet option like debt mutual funds. Try them. You can get 9% to 12% p.a. and it can increase your returns.
Thanks for the valuable information……. Can u pls post the housing loan interest rates.
Hi Hemamalini, Please refer this article. https://myinvestmentideas.com/2013/03/5-best-home-loan-interest-rates-in-india/
Hi sir,
Thanks for the reply , i would also like to whether banks will avail loan for 24 carat gold if it is purchased from some other country and also which bank offers gold loan at low interest rates.
whether we have to pay any tax while we bring gold bars from france to india?
Regards,
Hema.
Banks would provide loans on gold bars or gold ornaments. Yes they offer at low rates compared to rates of personal loans. I thought I already answered your other point. There are some restrictions to get gold bars from foreign country to Inida. If they are gold ornaments, there would be less restrictions, but for gold bars, as per my knowledge, you need to pay necessary taxes.
Thanks for your reply.