The SBI recurring deposit interest rate follows SBI's fixed deposit rate card for the same tenure, so a two year RD earns the two year FD rate, and senior citizens receive an extra rate on top. SBI changes these rates from time to time, so check the current card on sbi.co.in before you open one.
This site is not affiliated with SBI; this is an independent explanation. Below are SBI RD's features, how to calculate the return with the calculator above, and how it stacks up against the post office RD at 6.7%.
At a glance
Rate
Same as SBI FD rate for the tenureTenure
1 to 10 yearsMinimum
₹100 a month, multiples of ₹10Senior citizens
Extra rate over the regular cardCompounding
Quarterly
How the SBI recurring deposit interest rate is set
SBI publishes one rate card for term deposits, and RDs use the row that matches their tenure. Revisions to the FD card flow to new RDs only; a running RD stays on its opening rate. Senior citizens, aged 60 and above, get an extra margin, usually around half a percent, and SBI has at times run special senior schemes with more.
Because the card changes, this page does not print SBI's numbers. Use the calculator at the top with the rate from SBI's current card.
SBI recurring deposit features
- Tenure: 12 to 120 months.
- Instalment: from ₹100 a month, in multiples of ₹10, fixed for the term.
- Missed instalments: a small penalty per month of delay; repeated misses can lead to closure.
- Loan: available against the RD balance.
- Opening: through the branch, net banking or the bank's app.
- TDS: deducted on RD interest above the yearly threshold.
SBI RD vs post office RD
| SBI RD | Post office RD | |
|---|---|---|
| Rate | Per SBI card, changes | 6.7%, set quarterly by government |
| Tenure | 1 to 10 years | 5 years only |
| Senior extra | Yes | No |
| Safety | Covered by deposit insurance to ₹5 lakh | Owed by the government |
| Opening online | Easy in the app | Needs post office net banking |
For a five year RD, compare SBI's five year rate with 6.7%. For any other term, SBI's flexibility wins. Post office details: post office RD scheme.
SBI recurring deposit investment savings plan: what agents mean
Some sellers describe an SBI RD as a savings plan or investment plan. It is a plain deposit with a fixed rate, not an insurance or market product. If someone offers an SBI savings plan with insurance or market returns, it is a different product, often from an insurer, with different costs and risks. Ask clearly whether it is a recurring deposit before signing.
Recurring deposit interest rates in SBI: example with the calculator
Suppose SBI's card shows 6.5% for three years. Paying ₹3,000 for 36 months then returns roughly ₹1,19,473 on ₹1,08,000 paid in. A senior citizen at 7.0% would get about ₹1,20,412. Enter your actual rate in the calculator above to see your figure.
The formula and more examples are on the recurring deposit calculator page.
Best recurring deposit scheme: how to choose
Pick the RD whose end date matches your need and whose rate holds up for that term; that is the best recurring deposit scheme for you. Compare SBI's rate for your tenure with the post office's 6.7% for five years, and with any other bank you use. Safety and ease of paying every month matter as much as a quarter percent. For the basics, read what is a recurring deposit.
Frequently asked questions
What is the SBI recurring deposit interest rate?
It equals SBI's FD rate for the same tenure, with an extra rate for senior citizens. Check the current card on sbi.co.in.
What is the minimum RD amount in SBI?
₹100 a month, in multiples of ₹10.
Is SBI RD better than post office RD?
SBI offers more tenures and a senior extra; the post office offers a government backed 6.7% for five years. Compare the five year rates.
Can I open an SBI RD online?
Yes, through SBI internet banking or its app.
Is SBI RD interest taxable?
Yes, and TDS applies above the yearly threshold.