New RD investment on Dhanteras: These banks provide recurrent deposits with interest rates as high as 8.5%

Like fixed deposits (FD), recurring deposits (RD) are a safe choice for investing with guaranteed returns. Unlike FDs, which require a flat sum commitment, RDs let you make monthly investments, much like a mutual fund SIP. Open a Recurring Deposit account with any bank that offers greater interest rates if you’re seeking for a risk-free investment this Dhanteras. New Dhanteras investments are said to bring prosperity, and RDs could be a better choice.

RDs are renowned for their methodical approach to saving, which enables users to build up a sizable quantity of money over time.

These fixed-term deposits, which typically last between six months and ten years, provide substantial returns based on an interest rate that is set. These are a great option for those who want to save money consistently and get a little return on their investment without having to make a large initial commitment.

Attractive interest rates of up to 8.5% are now being offered by a number of institutions on RDs.

1. Suryoday Small Finance Bank: With 8.60% yearly interest on investments made for a period of 27 to 36 months, the bank offers the highest RD interest rate at the moment. For the same period, the interest rate is 9.1% for older persons.

2. DCB Bank: With an annual interest rate of 8% on RDs ranging from Rs 10 lakh to Rs 2 crore, DCB Bank now provides the second-highest interest rate on RDs in the nation. For RD balances less Rs 1 lakh, the bank further pays an annual interest rate of 1.75%.

3. Deutsche Bank: Offering an interest rate of 8% annually on RDs maturing between 27 and 36 months, it is competitive with DCB Bank’s interest rates. For a period of five years, the bank provides RDs at an interest rate of 7.25%.

4. Axis Bank: For five-year RDs totaling less than Rs two crore, this well-known private sector bank offers an interest rate of 7.10%. 7.60% of older persons are affected.

5. HDFC Bank: This massive private bank provides 15.-month RDs with an interest rate of 7.1%. Seniors are eligible for an interest rate of 7.6% for the same period.