Recurring Deposit: Invest fixed sum of amount on monthly basis in Recurring Deposit and obtain attractive interest rates. Build up your savings through regular monthly deposits of a hard and fast sum over a period of your time with Recurring Deposit. this is often an excellent option for those that have fewer earnings because the monthly deposit amount is extremely less in your checking account .

Recurring Deposit allows customers with a chance to create up their wealth securely through regular monthly deposit of fixed sum over a period of your time .

Recurring Deposit: Special Features

• Nomination facility is available so you can nominate your family members or spouse as the receiver of the final amount
• Loan facility is available up to 90% of your RD amount. Some times you bank also allows you to take an overdraft on the RD amount
• The deposit tenure ranges from 12 months to 120 months
• The minimum amount can be deposited in multiples of Rs. 100
• This service is available in every bank branch. You can visit your nearest branch to start an RD account
• TDS deductions are subject to the existing income tax rules as at the time of opening the RD account
• A penalty in case of delay in payment of an installment of RD is Rs 1.50 for every Rs. 100, per month

RD Interest Rates in India

The Recurring Deposit rate of interest in India varies from bank to bank and depends on the RD scheme chosen, the tenure, and therefore the monthly deposit amount. you’ll check RD Interest Rates by click on bank link provided in above table.