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Which is better, Bank Recurring Deposits or Post Office Recurring Deposit?

Writer: YashJYashJ


Recurring deposits are one of the best investment solutions for conservative people who can't save a huge chunk of money. A recurrent deposit (RD) is a sort of investment that allows you to put money aside on a regular basis while earning interest.


A recurring deposit can be set up at a bank or at the post office. The maturity amount for RDs is the sum of the principal and interest earned over the investment period. Every three months, interest is compounded. The savings must be deposited into the account once a month.


According to the India Post website, a monthly deposit must be at least Rs 100, with multiples of Rs 10 as a minimum. The applicable interest rate will be 5.8% per annum, compounded quarterly, beginning April 1, 2020. The account matures after 5 years (60 monthly deposits) from the date of opening.

The rate of interest on RDs is the same as that on term deposits for public and senior persons, according to the SBI website.

According to HDFC Bank website, "You can start with an investment of Rs1,000 and in multiples of Rs.100 after that. The maximum you can invest in a Recurring Deposit account is Rs 1,99,99,900 a month." Interest rates vary from 2.90 to 5.50 percent. ICICI Bank offers recurring deposit interest rate between 3.50-5.60 percent on various tenors.


HDFC BANK RD Interest Rate




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