Best Bank Recurring Deposits | Fusion - WeRIndia

Best Bank Recurring Deposits

Best Bank Recurring Deposits

Recurring Deposits (RDs) are one of the simplest and most commonly used saving instruments. When used well, it can help you save money regularly. Here are some of the best recurring bank deposits India. The list is made based on the interest rates offered by the deposit.

Bandhan Bank

The Recurring Deposits from Bandhan Bank offer a good interest rate of 8.25 per cent on its 1 year and 2 year deposits. However, the interest rate on the 3 year deposit is lower at 8 per cent. Bandhan Bank is the newest bank in India.

Ratnakar Bank

Ratnakar Bank is another new bank. The company’s RD gives a return of 8.25 per cent interest for a 1-year tenure. However, for the two year deposit, the interest rate is 8.75 per cent and for 3 years the interest rate reduced to 8.50 per cent.

DCB Bank

DCB Bank RDs give an interest rate of 7.90 per cent on a 1 year deposit. The bank increases the rate of interest for people who go for a longer RD tenure. The rate is 8 percent for the 2 and 3 year tenure deposits.

Lakshmi Vilas Bank

Lakshmi Vilas Bank RDs have an interest rate of 7.80 per cent on a 1-year deposit. The rate increases to 7.90 per cent on a two and three year deposit.

Canara Bank

Canara Bank also offers an interest rate of 7.75 per cent for 1, 2 and 3 year tenures of its recurring deposits. This rate is the highest among any public sector bank in the country.

Karnataka Bank

Just like Canara Bank, Karnataka Bank also offers an interest rate of 7.75 per cent for a 1 year tenure Recurring Deposit. The interest rate for an RD of two and three year tenure is 7.75 per cent.

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