hdfc bank interest rates on recurring deposit

Utkarsh Small Finance Bank extends an interest rate of 9.10 per cent to senior citizens for FDs maturing within the two to three-year timeframe. In sum, Unity Small Finance Bank provides a competitive FD interest rate, but it is essential to take note of the premature withdrawal penalty before making an investment decision. This penalty serves as a deterrent for early withdrawals and helps the bank sustain its profitability. Nonetheless, should you decide to withdraw your FD before its maturity date, a premature penalty of one per cent will be levied on the interest accrued during the period the deposit was held. It varies from bank to bank, but it should be in a multiple of 10.Unity Small Finance Bank presents an enticing interest rate of 9.50 per cent for Fixed Deposits maturing in 1001 days. Q2 What is the minimum amount which can be invested in a recurring deposit? Recurring deposit generally ranges between 7-8%. Q1 What is the maximum rate of Interest in a Recurring deposit? As of February 24, 2023, these rates are in effect. The first month's minimum deposit is Rs 500, and subsequent deposits are made in multiples of Rs 100. Interest rates of ICICI Recurring depositįor terms ranging from six months to ten years, ICICI Bank provides citizens RD interest rates between 4.75 percent and 7.10 percent. The 15-month rate, which has an interest rate of 7.10%, came into effect on Februinterest rates for other tenures came into effect from January 24, 2023.ĪLSO READ: Planning a home loan? Know the difference between pre-EMI and full-EMI repayment plans The account holder will then receive the remaining funds.įor terms maturing between six months and 120 months, HDFC Bank provides citizens RD interest rates ranging from 4.5% to 7.10%. If the client doesn't make six consecutive deposits, the bank will cancel the account. These prices are valid beginning on February 15, 2023. Interest rates from 6.80 to 7% are available from the State Bank of India (SBI) for maturities between 12 and 120 months. The RD interest rates provided by SBI, HDFC Bank, ICICI Bank are compared below: Recurring deposit interest rates will rise along with banks' fixed deposit interest rates. The bank and tenure that clients choose affect the interest rates.ĪLSO READ: Bank holidays in March 2023: Banks to remain closed for 12 days - check dates The interest rates for recurring deposits are determined using a quarterly compounded formula. Investors in the recurring deposit plan can accumulate a sizable amount at maturity, by making little monthly instalments.

Hdfc bank interest rates on recurring deposit