These 4 private banks offer promising returns

0

Recurring interest rate on deposits: A recurring deposit (RD) is one of the most popular risk-free investment options. It allows an investor to make periodic monthly deposits on which the bank gives risk-free interest in return. R&D investment is very useful when an investor has an anticipated expense, such as an approaching important event or an emergency medical expense, etc. With an RD account, an investor has an easier way to put their money to work.

Today, when various Indian banks offer recurring deposit account to its customers at various recurring deposit interest rates, we are listing top 4 private sector banks that offer promising recurring deposit interest rates:

1]Yes Bank: This private sector bank offers a recurring deposit account for a period of 6 months to 10 years. Yes The RD Bank interest rate offered for these tenors ranges from 5 percent to 6.50 percent. The private lender is also offering an additional RD interest rate of 50-75bp to holders of recurring senior deposit accounts. It offers an additional 50bp R&D rate for up to 33 months. For a term ranging from 36 months to 10 years, the RD interest rate for seniors will be 775 basis points higher than the RD interest rate offered to recurring deposit account holders under the age of 60.

View full picture

Source: yes Bank website

2]RBL Bank: This private lender offers a recurring deposit account for a period of 6 months to 10 years. RBL Bank offers a recurring interest rate on deposits of 5.25 to 6.75. It offers an additional RD interest rate of 50 basis points to its holders of recurring senior deposit accounts. One can open an RBL recurring deposit account with a minimum deposit of ??1000 per month. RBL Bank revised its RD interest rate effect from September 1, 2021.

Source: RBL Bank

View full picture

Source: RBL Bank

2]RBL Bank: This private lender offers a recurring deposit account for a period of 6 months to 10 years. RBL Bank offers a recurring interest rate on deposits of 5.25 to 6.75. It offers an additional RD interest rate of 50 basis points to its holders of recurring senior deposit accounts. One can open an RBL recurring deposit account with a minimum deposit of ??1000 per month. RBL Bank revised its RD interest rate effect from September 1, 2021.

| # + |

3]Axis Bank: This private lender offers its account holders the possibility of opening a recurring deposit account online via net banking. It allows holders of recurring accounts to deposit a minimum monthly payment of ??500 for the tenor – 6 months to 10 years. The private sector bank revised its interest rates on domestic term deposits which became applicable from September 23, 2021.

Source: Axis Bank

View full picture

Source: Axis Bank

4]First IDFC bank: This private lending bank allows an investor to open a recurring deposit account with a minimum of ??100 monthly deposit maximum ??75,000 monthly deposit. It allows RD for a term of 6 months to 10 years with an interest rate ranging from 5 to 6%.

Source: IDFC First Bank

View full picture

Source: IDFC First Bank

For RD maturities of 36, 39, 48 and 60 months, the proposed RD interest rate is 6%, while for 90 and 120 month RDs, the suggested interest rate is 5.25%.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!


Source link

Leave A Reply

Your email address will not be published.