Latest recurring deposit (RD) interest rates in India–Sep-2013

Latest recurring deposit interest rates in India – Sep-13Latest recurring deposit (RD) interest rates in India–Sep-2013

Latest Recurring deposit (RD) rates indicate that in the last one month several banks have increased interest rates for short term and few banks for long term.

Private Banks: After long time, Citibank has increased RD rates from 6.75% to 8.5% for 1 year RD. However generally investors would not create an RD for such short term, hence I am not sure how useful this feature would be. Deutsche Bank too has modified its rates.

Private Sector Banks: Several private sector banks have increased the short term RD rates.

Public Sector Banks: Even here, there is mixed update. Some banks have increased short term deposit rates. Canara Bank and UBI have reduced RD rates.

Investment in recurring deposits (RD) in India is continued to be one of the best choice for several investors. However I feel, banks are not yet en-cashing the huge potential in this.

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 RD account instead of compromising and depositing with their current bank.

Latest recurring deposit interest rates in India

Latest recurring deposit interest rates in India – Sep-2013

If you enjoyed this article, share the link in Facebook/Twitter. The links are provided below.

Suresh
Latest recurring deposit interest rates in India

2 comments

  • manish

    Hi Suresh, thank you for your valuable info. Just one correction.

    I went today for opening a 3 years RD of Rs 10000 in Indian Bank. They are providing only 9 % ineterest rates instead of 9.5 % mentioned above. 

    regards

    Manish

    • Manish, I gather info from bank websites directly. Earlier too there was one case from same Indian bank where they quoted wrong info on website, but in actual they are paying less. I re-checked and I could still see that it indicates 0.5% higher interest rate for recurring deposit over and above FD rates at this link

Leave a Reply

Your email address will not be published. Required fields are marked *