SBI Recurring Deposit: If you are a State Bank of India (SBI) customer, then, this news is of your utilization. The country’s biggest bank State Bank of India (SBI) has changed the interest rates for its clients on Recurring Deposit (RD). The new rates carried out by the bank have become compelling from February 15.
Recurring can begin from Rs.100
The clients who have made reccuring deposits will get the advantage of expanded Recurring Deposit (RD) rates by the bank. You can open a recurring deposit account in SBI with a minimum deposit of just Rs.100. This account can be opened for a considerable length of time to 10 years.
Senior citizens will get more interest
Allow us to let you know that like Fixed Deposit (FD), in Recurring Deposit (RD) likewise Senior Citizen gets extra interest each term. After the change, premium on doing RD for 1 to 2 years will be given at the pace of 5.1 percent.
Recurring option as long as 10 years
The recurring deposit has expanded to 5.20 percent over a time of a few years. For a time of three to five years, it is 5.45 percent. For 5 to 10 years, in the event that somebody does recurring, this rate has been expanded to 5.50 percent.
New rates to be viable from February 15
- 1 year to under 2 years – 5.1%
- 2 years to under 3 years – 5.2%
- 3 years to under 5 years – 5.45%
