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SBI allows opening an RD account for a period of 7 days to 10 years depending on the financial goals of the customer. The SBI recurring deposit interest rates offered by the bank on deposit less than Rs. 2 crore is 4.50% and 6.25%. Senior citizens are offered with an additional interest of.

Save now to invest in your future

One can open a recurring deposit account with any post office or a bank. A minimum amount of Rs 500 to 1000 is usually deposited but that too ranges from bank to bank. The tenure extends from 6. Fixed Deposit Recurring Deposit Flexi Deposit Scheme Annuity Deposit scheme MOD SBI Tax Savings Scheme-2006 MACAD Reinvestment Plan SBI Holiday Savings Account(Cox & Kings) SBI Holiday Saving Account Govt.

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Recurring deposit Content

Recurring Deposit
Regular small savings to build up a fund

Recurring Deposit allows you to invest a fixed amount ranging from minimum LKR 1,000/ per month to maximum LKR 25,000/- per month (in multiples of LKR 1,000/-) at monthly intervals for building up an amount at the end of the term to fulfill your dreams.


Term of deposit

12 / 24 months.


Eligibility
  • Resident Individuals (Sri Lankan, Indian & Other Nationals) of 18 years of age & above.
  • Single or in Joint names with other individuals.

Interest Rates
  • Card rates on Fixed deposits.
  • Please refer ‘interest rates’ link under ‘Quick links’ for latest interest rates.

Key Benefits
  • High safety & security of your funds.
  • Free Nomination facility.

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© Provided by News18 SBI Recurring Deposit Account: All You Need to Know

A recurring deposit (RD) is a savings scheme where a certain amount is invested every month for a specified term. RD is among the prominent savings options among investors where the maturity amount including the invested principal and interest earned is payable to the individual on completion of the tenure.

Recurring deposit is considered by investors looking to build a corpus that comes with low risk and guaranteed returns. RD falls handy since it aims to invest a certain amount per month and you don’t have a lump sum to invest for a short-term purpose.

One can open a recurring deposit account with any post office or a bank. A minimum amount of Rs 500 to 1000 is usually deposited but that too ranges from bank to bank. The tenure extends from 6 months to a period of 10 years. Certain banks may offer a minimum term of 12 months for online RD.

In order to open RD with the State Bank of India, you need to sign in to your online SBI account and select e-RD (RD) or e-SBI Flexi Deposit option under the Fixed Deposit menu. Now select e-RD on the new page and proceed further. You will now be redirected to the next page where your active SBI accounts will be displayed. Choose the account from which you wish to invest and enter the amount that you want to deposit monthly. If you are a senior citizen, select the checkbox.

Sbi Recurring Deposit Interest

To proceed further, select the tenure of the recurring deposit. The minimum tenure of the RD account is 1 year. You may view tenure-wise interest rates by selecting ‘view interest rate: domestic term deposit’. In order to get the principal amount and interest deposited in your bank account select ‘Payback Principal and Interest’ option. Alternatively, you can choose to turn the maturity amount into a fixed deposit by selecting ‘convert to STDR’. Accept all the terms and conditions and click on submit.

Sbi Rd Form

The name of the nominee specified in the savings bank account will appear on the page with all details that you have entered. Now, click on ‘yes’ if you wish to keep the same nominee else select ‘Do you want the nominee/s to be mapped to your term deposit account’ and confirm. All details including maturity amount, tenure, interest rate will be confirmed on the next page. Proceed by clicking on the ‘view/print’ option to take a print out of your recurring deposit.