In Recurring Deposit, you do not need to deposit money at one go. You can deposit money in it every month or in three months. You also get interest on this money every three months.
If you are making an investment plan, then this news can be of use to you. Nowadays all the banks are offering great returns on fixed deposits to their customers. But in the meantime, there are many such banks which are offering good returns to their customers even on recurring deposits. Today we are going to tell you about such banks where you are getting more than 7% return on recurring deposits.
In Recurring Deposit, you do not need to deposit money at one go. You can deposit money in it every month or in three months. You also get interest on this money every three months.
read this also: To make payment without internet, set this setting in the phone
What is Recurring Deposit?
You can invest little by little every month in a recurring deposit. You have to invest this money for 5 years. On which the bank also gives you interest. Then after maturity, if you want, you can extend it once for another 5 years. In this, your interest is calculated every third month. If you want to open an account in recurring deposit, you can open an account by going to your bank or the nearest post office.
These banks are getting great returns
- On SBI, customers are getting interest ranging from 6.50% to 7% on recurring deposits.
- HDFC Bank is giving interest up to a maximum of 7.10% on RDs of 6 months to 10 years to its recurring deposit holders.
- In ICICI Bank, interest bank is offering from 4.75% to 7.10% on RD on RD from 6 months to 10 years.
- Indusind Bank is offering its customers 6.25% to 7.75% interest on recurring deposits ranging from 9 months to 10 years.
Source: www.tv9hindi.com”