RD interest rates are subject to change from time to time

Recurring Deposit (RD) is a kind of term deposit under which investors need to deposit a fixed amount at a fixed interval, which generates a guaranteed interest income. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, an RD account allows the investor to invest fixed amount of funds at regular intervals; for instance, every month. On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them.

RD interest rates are subject to change from time to time. Last week, State Bank of India revised its interest rates, according to the lender's website.

Here is a comparison of recurring deposit (RD) interest rates paid by State Bank of India, Yes Bank, ICICI Bank and HDFC Bank:

State Bank of India

The following RD interest rates are offered by SBI with effect from May 9, 2019, according to the bank's website - sbi.co.in:

Period General public (% p.a.) Senior citizens (% p.a.) 1 year to less than 2 year 7 7.5 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.7 7.2 5 years and up to 10 years 6.6 7.1

Yes Bank

The following RD interest rates are offered by Yes Bank with effect from May 2, 2019 according to the bank's website, yesbank.in:

Tenors General public (% p.a.) Senior citizens (% p.a.) 6 Months 6.85% 7.35% 9 Months 7.15% 7.65% 12 Months 7.25% 7.75% 15 Months 7.25% 7.75% 18 Months 7.25% 7.75% 21 Months 7.25% 7.75% 24 Months 7.65% 8.15% 27 Months 7.65% 8.15% 30 Months 7.65% 8.15% 33 Months 7.65% 8.15% 3 years up to 10 Years 7.25% 7.75%

ICICI Bank

The following RD interest rates are offered by ICICI Bank with effect from March 7, 2019 according to the bank's website - icicibank.com:

Tenors General public (% p.a.) Senior citizens (% p.a.) 6 months 6.25 6.75 9 months 6.5 7 12 months 6.9 7.4 15 months 7.1 7.6 18 months 7.1 7.6 21 months 7.1 7.6 24 months 7.1 7.6 27 months 7.5 8 30 months 7.5 8 33 months 7.5 8 36 months 7.5 8 Above 3 years up to 5 years 7.25 7.75 Above 5 years up to 10 years 7 7.5

HDFC Bank

The following RD interest rates are offered by HDFC Bank, according to the bank's website - hdfcbank.com:

Tenors General public (% p.a.) Listen to the latest songs , only on JioSaavn.com Promoted Senior citizens (% p.a.) Effective From 6 Months 6.25 6.75 June 06, 2018 9 Months 6.75 7.25 August 06, 2018 12 Months 7.30 7.80 November 06, 2018 15 Months 7.30 7.80 November 06, 2018 24 Months 7.30 7.80 November 06, 2018 27 Months 7.40 7.90 November 06, 2018 36 Months 7.40 7.90 November 06, 2018 39 Months 7.25 7.75 November 06, 2018 48 Months 7.25 7.75 November 06, 2018 60 Months 7.25 7.75 November 06, 2018 90 Months 6.50 7.00 November 06, 2018 120 Months 6.50 7.00 November 06, 2018

Institutions such as small finance banks and post offices also offer the facility of recurring deposit account.