If you’re looking to grow your savings gradually by depositing small amounts, Recurring Deposits (RD) can be an excellent choice.
Unlike Fixed Deposits (FD), RD allows you to accumulate wealth over time through regular monthly installments.
Currently, several banks are offering impressive interest rates of up to 7.75% on RDs.
Here are the top 5 banks with the highest RD interest rates for their customers:
1. Deutsche Bank
- For general customers: Interest rates range from 6% to 7.50% on RDs of varying tenures.
- For senior citizen customers: The bank offers interest rates between 6.50% to 7.75% on RDs of different tenures.
2. City Union Bank
- For general customers: Interest rates vary from 6.70% to 7.10% for RDs with different tenures.
- For senior citizen customers: City Union Bank provides interest rates ranging from 6.95% to 7.50% for RDs with varying tenures.
3. DHFL Bank
- DHFL Bank offers a high interest rate of 7.75% to its general customers on RDs with different tenures.
- Senior citizen customers also enjoy a competitive interest rate of 7.75% on RDs of various tenures.
4. Indian Overseas Bank
- For general customers: Interest rates on RDs range from 5.75% to 7.25% for different tenures.
- Senior citizen customers can benefit from interest rates between 6.25% to 7.75% on RDs with varying tenures.
5. Bandhan Bank
- For general customers: Bandhan Bank offers interest rates ranging from 6.50% to 7.50% on RDs with different tenures.
- Senior citizen customers can enjoy even higher interest rates, with rates ranging from 7% to 8% on RDs of varying tenures.
These banks provide attractive RD options, making it easier for customers to grow their savings while ensuring financial stability.
