Small Financial Bank RD: Nowadays, small finance banks are offering up to 7.5% return on recurring deposit. Most small banks offer this benefit in RDs of 6 months to 10 years. The best part is that investing in it can start at just Rs 100. RD and FD are almost identical investments. In RD, investors deposit money every month. It is a type of systematic investment plan (SIP) of FD. But with regards to interest rates, the longer the investment stays, the better the returns.
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Which small finance bank is offering the best return
Currently, small finance banks offer returns on FDs ranging from 6.25% to 7.5%. AU According to the Small Finance Bank’s website, RDs are yielding 6.25% returns for 25 months to 36 months and 61 months to 120 months. At the same time, Northeastern Small Financial Bank is offering up to 7.5% return on 2-year RD. Utkarsh Small Finance Bank has been gaining a 7% return on RD for 24 to 36 months. Most small finance banks offer revenues of 6.5% to 6.75% in RD. These include smaller financial banks such as Sunrise, Jana, Shivalik, FinCare.
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Post Office Rd Interest Rate
1- Interest is being paid at Post Office Rd at 5.8% per annum. Interest received from RD is fully taxable. The interest rate on RD is compounded quarterly.
2- The Post Office Rd will be open for 5 years.
3- The Post Office RD can be opened at Rs 10 and there is no maximum limit.