Rate of Interest on Recurring Deposit in State Bank of India

Hello sir I want to know the Rate of Interest on Recurring Deposit in State Bank of India so can you please give me some information about it?

[Arun Vats]

State Bank of India provides facility of the Recurring Deposit, here is the following details of it

Key features-
Minimum period 12 months maximum 120 months.

Monthly deposits of Minimum Rs.100/- and in multiples of Rs 10/- No maximum.

Rate of interest as applicable to Bank's TDR / STDR for the period of the RD

Loan / Overdraft up to 90% available against the balance in RD account.

Premature withdrawal allowed and for this, rules for TDR/STDR is applicable

TDS is applicable.


Terms & Conditions
For a/c of period 5 years and less --Rs. 1.50 per Rs. 100/- per month

For a/c of period above 5 years- Rs. 2.00 per Rs. 100/- per month

Penalty charges for non-Deposit of monthly installments:

Passbooks are issued

Instructions for disposal of maturity proceeds are accepted at the time of opening of accounts.

Nomination facility available and it is advised to avail of the facility.

SBI Recurring Deposit Interest Rate:
From August 19, 2015 the interest rates have been revised to 7.25% – 7.75% for General and 7.50% – 8.00% for senior citizens depending on the tenure of deposit.

SBI Recurring Deposit Maturity value: