Sep 16, 2020 For the money invested in a recurring deposit, tax is deducted at source, i.e. This tax is levied @ 10% p.a. If the deposit amounts to more than Rs. It should be noted that it is the interest earned on RD that is taxable and not the full maturity amount. Recurring Deposits - With Recurring Deposit Accounts from YES BANK avail attractive returns to the money you invest. Earn up to 7.10% interest rate & 0.50% extra for senior citizens on recurring deposits. The tenor of Deposit is calculated in number of days. In case of premature withdrawal of the recurring deposit, penalty of 0.5% will be applied on the applicable rate of interest for the duration which the deposit. Interest Rates - Find the rate of interest for savings account, fixed deposits, recurring deposits, iWish RD, NRO term deposits & NRE term deposits.
Recurring Deposit Interest Rates In Post Office
A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered byShriram City Union Finance Ltd. Recurring deposits enable you make regular deposits and earnbest in segment returns on the investment. Due to the regular deposit factor and an interestcomponent, it often provides flexibility and ease of investments to investors. Similar toFixed deposits, Recurring Deposits are also a contract between you and the Shriram City forthe approved interest rate from the date of investment till maturity.
Recurring Deposit Interest Rates Sbi
However, unlike Fixed Deposit in Recurring Deposits you invest amount on regular intervalsunlike one-time investment in Fixed Deposit. Shriram City comes with about 45 years ofunchallenged trust in the Indian market, with over 5 million trusted customer base acrossthe length and breadth of the nation. With investment tenure ranging from 12 months to 60months, Shriram City's RecurringDeposits come with a 'MAA+/ with Stable Outlook' rating byICRA (Indicates high credit quality). However, it is essential to know that Shriram CityRecurring Deposits are different from Shriram City Fixed Deposits. RDs are flexible in mostaspects. An RD account holder can choose to invest a fixed amount each month while earningdecent interest on the amount similar to SIP’s (Systematic Investment Plans). RDs are anideal saving-cum-investment instrument which encourages wealth building habits toindividuals.