These banks offer up to 8.5%



Recurring Deposit (RD) is a savings incentive scheme well known to many in India. In the recurring deposit account, the customer makes the installment payments and receives the amount due on the due date. Major lenders including State Bank of India (SBI), HDFC Bank, ICICI Bank and others offer you the option of opening an RD account. Apart from these banks and the post office, RD accounts can also be opened with small financial banks (SFB).

Small financial banks not only offer higher interest rates on Fixed Deposits (FDs), but also on RDs. For most small financial banks, the minimum R&D tenure is six months and the maximum 10 years. The minimum investment amount is 100.

Latest RD rates of Utkarsh Small Finance Bank

Utkarsh Small Finance Bank, for example, offers the highest rate of 8% on an RD of 24 to 36 months.

For other tenures, 12, 15, 18, 21 and 24 months, the bank offers rates of 7.25%. The same rates are for RDs over three years and up to 10 years.

Like FD, seniors get 50 bp in addition to the rate applicable to general customers. For example, Utkarsh Small Finance Bank offers the highest rate of 8.5% on an RD of 24 to 36 months to the elderly.

These rates are from September 1, 2020.

Up to 6 months – 6.50%

9 months – 6.50%

12 months – 7.25%

15 months 7.25%

18 months 7.25%

21 months 7.25%

Over 21 months to less than 24 months 7.25%

24 months to 36 months 8.00%

Over 3 years up to 5 years 7.25%

Over 5 years up to 10 years 7.25%

Jana Small Finance Bank Latest RD Rates

Jana Small Finance Bank, for example, offers the highest rate of 7.25% on RD of less than 36 months – 60 months for the general public and 7.75% for seniors. These prices are from April 11, 2021.

> 1 month – 6 months -4%

> 6 months – 12 months -6%

> 12 months – 36 months -7%

> 36 months – 60 months -7.25%

> 60 months – 120 months -6.50%

Latest RD Rates of Suryoday Small Finance Bank

Suryoday Small Finance Bank offers its highest rate on RD for a term of five years. These deposits will give general customers 7.25% and seniors 7.75%. These prices are effective from February 15, 2021.

6 months 5.50%

9 months 6.00%

12 months 6.75%

15 months 6.75%

18 months 6.75%

21 months 6.75%

24 months 6.75%

27 months 7.00%

30 months 7.00%

33 months 7.00%

36 months 7.00%

More than 3 years to less than 5 years 7.10%

5 years 7.25%

More than 5 years to 10 years 6.50%

North East Small Finance Bank Latest RD Rates

North East Small Finance Bank offers its highest rate of 7.50% on two-year RD. The bank gives 50 additional basis points to seniors. These rates are in effect from September 1

3 months 4.25%

6 months 4.50%

9 months 5.50%

1 year 5.50%

2 years 7.50%

3 years 7.00%

4 years 7.00%

5 years 6.50%

More than 5 years up to 10 years 6.50%

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