Bank Latest RD Rates 2023: In the last one year, not only Fixed Deposit (FD), but also Recurring Deposit (RD) or Recurring Deposit interest rates have seen an increase.
Some banks are offering investors close to 10 percent interest on recurring deposits. In this case, this opportunity can prove to be better for those investors who are looking for safe investment options.
Let me tell you, the reason behind the increase in the interest rates of FD and RD in the last one year is the increase in the repo rate by the RBI. In the last one year, the repo rate has increased from 4.40 percent (May 2022) to 6.50 percent.
How much interest are banks paying on RD in 2023?
Suryoday Small Finance Bank (SSFB)
On behalf of Suryoday Small Finance Bank (SSFB), senior citizens are being given 9.6 percent interest on five-year RD, while it is 9.1 percent for general investors.
Unity Small Finance Bank
Senior citizens are given 9.5 percent interest on 1001 days RD of Unity Small Finance Bank and 8.15 percent interest is being given for five years. At the same time, general investors are given 9.1 percent interest on 1001 days RD and 7.65 percent interest on 5 years RD.
Interest on RD in State Bank of India
Senior citizens are getting 7.5 percent interest rate on 5-year RD from State Bank of India, while 6.6 percent interest is being given to general investors.
Interest on RD in HDFC Bank
Senior citizens are being given 7.5 percent interest on five-year RD by HDFC Bank. At the same time, the bank is offering 7 percent interest to other investors. Apart from this, 7.75 percent interest is being given to senior citizens on FDs of 7.5 years and 10 years.
Interest on RD in ICICI Bank
On behalf of ICICI Bank, 7.5 percent interest is being given to senior citizens on RD for five years. At the same time, 6.9 percent interest is being given by the bank to other investors.
