Recurring Deposit Rates
- Open a recurring deposit account from ICICI Bank and get RD interest rates between 6.75% and 7.75% based on age & tenure. Visit us now to know more!
- In general, the recurring deposit interest rates typically range between 6%-9%. This is a general range and individual banks may offer a higher or lower interest rate depending on the amount that you invest and the period that you have invested for.
- Recurring Deposit Benefits
- Indian Overseas Bank Recurring Deposit Rates
- Fixed Deposit
- Icici Recurring Deposit Rates
- Recurring Deposit Rates Hdfc
- Recurring Deposit Calculator
The Minimum tenor for earning the interest on NRE Recurring Deposit is 1 year. No Interest will be paid if the NRE Recurring Deposit is prematurely withdrawn before 1 year. With effect from Oct 24, 2015, the following changes would be applicable to all Recurring Deposits. Axis Bank’s Recurring Deposit interest rate (compounded quarterly) gives you the advantage of earning a higher rate of return on your systematic monthly deposits and gain with the benefit of compounding. Open an RD account today! Once you open a bank RD the. Sep 16, 2020 Tax on Recurring Deposits Like FD, investing in an RD also qualifies for taxation. For the money invested in a recurring deposit, tax is deducted at source, i.e. This tax is levied @ 10% p.a. If the deposit amounts to more than Rs.
Find Dena Bank Recurring Deposit Interest Rates (as on 06 Mar 2021). An account in which the investor needs to deposit the pre-specified amount at periodical intervals (In instalments-usually monthly instalments) for a long term.
Bank RDs are offered by public sector banks, private sector banks, co-operative banks, foreign banks and regional rural banks. You are required to invest in regular instalments (usually monthly) which are pre-decided by you. Multiple tenure having different interest rates are there with the banks which you can opt for according to your need. Interest rates is calculated quarterly not annually and maturity amount is taxable.
Recurring Deposit Benefits
Premature withdrawals, In recurring deposit partial withdrawals are not allowed, you can withdraw entire amount anytime but after charging a certain penalty, banks generally charge 1% as penalty.
Indian Overseas Bank Recurring Deposit Rates
Dena Bank Recurring Deposit
Dena Bank offers you an opportunity to build up capital through regular monthly deposits of fixed sum over a period of time. It offers you various options of RD with period of deposit of minimum 12 months to maximum 120 months. There is no cap on maximum deposit amount of an RD. You need to give instructions for disposal of maturity proceeds at the time of opening of your RD account. Loans or OD facility of up to 90% of deposited amount is available. Rate of interest on RD is same as applicable to term deposits. The rate applicable to all Senior Citizens of age 60 years and above will be 0.50% above the applicable rate of general customers.
Investing in Dena Bank is a great option for those who have fewer earnings. The benefit in RDs is that you get the same interest rate during the whole RD tenure, even if the future RD rates are lower.
Tax Implication on Recurring Deposit (RD)
Taxability of Interest Earned
Interest earned is taxable based on account holder's tax bracket and therefore, he/ she is liable to pay tax on interest earned. Interest earned is taxable under the head 'Income from Other Sources'.
Applicability of TDS
No TDS will be made on total interest earned upto Rs. 10,000. Whenever total interest earned exceeds Rs 10,000 in a financial year, 10% TDS is made. You are free to claim for refund of any extra TDS made. Earlier, there was no TDS on RD but with effect from 1st June 2015, applicability of TDS on RD has been made under Section 194A.
More Rate of TDS
In absence of a valid PAN or if you fail to provide the PAN information to the bank/ post office, TDS at the rate of 20% is made.
Avoiding TDS
In case, the RD account holder does not have a taxable income, he/ she can submit Form 15G/ Form 15H to the bank/ post office where RD account is opened so that TDS can be avoided. Form 15G is used for people who are under 60 years of age while Form 15H is just similar to Form 15G, but it can only be used for people who are 60 years and above (senior citizens).
Fixed Deposit
Dena Bank Recurring Interest Rates (as on 06 Mar 2021)
Icici Recurring Deposit Rates
| Maturity Period | Interest Rate (p.a.) |
|---|---|
| Year 1 | 5.10% |
| Year 2 | 5.10% |
| Year 3 | 5.10% |
| Year 4 | 5.30% |
| Year 5 | 5.30% |
Recurring Deposit Rates Hdfc
Disclaimer: The Recurring Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD. Source: Bank WebsitesOther Banks Recurring Interest Rates List
Recurring Deposit Calculator
| Bank Name | 1 Year (p.a.) | 5 Years (p.a.) | Calculate |
|---|---|---|---|
| North East Small Finance Bank | 7.50% | 6.50% | |
| Idfc Bank | 7.25% | 7.25% | |
| Utkarsh Small Finance Bank | 7.25% | 7.25% | |
| Suryoday Small Finance Bank | 7.25% | 7.25% | |
| Equitas Small Finance Bank | 7.10% | 6.75% | |
| Rbl Bank | 7.00% | 6.65% | |
| Indusind Bank | 7.00% | 6.65% | |
| Esaf Small Finance Bank | 7.00% | 6.00% | |
| Fincare Small Finance Bank Ltd | 6.95% | % | |
| Allahabad Bank | 6.75% | 6.50% | |
| Yes Bank | 6.75% | 6.75% | |
| The Nainital Bank | 6.70% | 6.90% | |
| Dcb Bank | 6.50% | 6.95% | |
| Capital Small Finance Bank | 6.50% | 6.25% | |
| United Bank Of India | 6.50% | 6.00% | |
| Ujjivan Small Finance Bank | 6.50% | 5.55% | |
| Standard Chartered Bank | 6.30% | % | |
| Laxmi Vilas Bank | 6.00% | 6.00% | |
| Tamilnad Mercantile Bank | 5.90% | 5.75% | |
| Bandhan Bank | 5.75% | 5.75% | |
| Punjab And Sind Bank | 5.55% | 5.55% | |
| City Union Bank | 5.50% | 5.25% | |
| Karur Vysya Bank | 5.50% | 5.65% | |
| Karnataka Bank | 5.50% | 5.70% | |
| Au Small Finance Bank | 5.50% | 6.50% | |
| South Indian Bank | 5.50% | 5.60% | |
| Federal Bank | 5.45% | 5.60% | |
| Andhra Bank | 5.40% | 5.45% | |
| Canara Bank | 5.40% | 5.30% | |
| Corporation Bank | 5.40% | 5.45% |