Features of SBI Recurring Deposit (RD) Account
1. Minimum Deposit: A minimum deposit of ₹100 is necessary for opening an SBI RD account; for higher amounts, deposits should be made in multiples of ₹10.
2. Time Frame: SBI RD accounts have a duration ranging from one to ten years.
3. Senior Citizens: Senior citizens are eligible for an additional interest rate of 0.50% in addition to the standard rate of interest extended to the general public.
4. Loan Against Deposits: SBI provides the option to obtain loans secured by deposited funds; 90% of the Recurring deposit balance may be utilised as the loan quantity.
5. Nominee: You can designate somebody to receive the mature amount using the nomination facility.
SBI RD Interest Rates 2023 | Recurring Deposit Calculator
The State Bank of India provides an extensive selection of deposit schemes to enable individuals to make investments for both extended and immediate periods. SBI’s initiatives, as the most prominent bank in India, have garnered excellent results and superior returns for several decades, which has established them as a highly regarded investment option among consumers. Customers can obtain lucrative RD interest rates from SBI with an initial deposit of just ₹100. SBI permits customers to establish RD accounts for terms ranging from seven days to ten years, contingent on their specific financial objectives. The SBI RD rates of interest on deposits below ₹2 crores are 5% and 5.40%, respectively. Seniors are eligible to receive an extra 0.50% on top of the standard interest rate.
Table of Content
- Interest Rates for SBI Recurring Deposits (RD) in 2023 (Below ₹2 Crore)
- Features of SBI Recurring Deposit (RD) Interest Rates 2023
- How to Open a Recurring Deposit (RD) Account in SBI?
- How to Calculate Recurring Deposit (RD) Interest Rates in SBI?
- Eligibility Criteria for Opening a Recurring Deposit (RD) Account with SBI
- Documents Required for Starting a Recurring Deposit (RD) Account
- Types of SBI Recurring Deposits (RD) Accounts
- SBI Recurring Deposit (RD) Premature Withdrawal
- Frequently Asked Questions
Contact Us