Best Interest Rates On Recurring Deposit In India

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    Recurring Deposit can be a good approach for those who are looking to save on monthly basis. Ideal for those who are risk averse and looking for decent returns.

    Interest earned on RDs are not tax free, so it is best for people who fall in lower income tax bracket.

    If one wants to avoid TDS on RDs can do so by investing in Post Office Recurring Deposits

     

    Post Office recurring deposit offers interest rates at 8.4 per cent which is compounded quarterly.

    In Union Budget 2015, the finmin notified that TDS will be applicable on the bank recurring deposits and calculated as per tax slabs. However, not applicable on post office RDs.

    Best Interest Rates On Recurring Deposit

    Latest Interest rates on Recurring deposits

    Bank name Tenure Interest Rate
    Bank Of India 1 year-3 years 8.25 percent
    State Bank of Hyderabad 2 years 8.50 percent
    Andra Bank 1-2 years 8.25 percent
    Allahabad Bank 2-5 years 8.25 percent
    Ratnakar Bank 1-2 years 8.85 percent
    Yes Bank 1-5 years 8.25 percent
    Karnataka Bank 1 year 8.35 percent
    Lashmi Vilas bank 1 year 8.60 percent
    DCB Bank 2-5 years 8.60 percent
    Central Bank of India 1 year 8.35 percent
    Dhanalakshmi Bank 1-2 years 8.30 percent
    Indus Ind Bank 1 year 8.35 percent

    Note that interest rates tend to change without notification. Please verify from the respective bank before locking the amount.

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