SBI hikes recurring deposit interest rates. Latest RD rates here

The country's largest lender State Bank of India (SBI) has increased interest rates on recurring deposits (RD). The rates are effective from 15 February. You can open an RD with SBI for a minimum deposit of ₹100. The RD account can be opened for a period that ranges between 12 months and 10 years. Just like fixed deposit (FD), senior citizens are offered an additional interest in all tenures.

SBI Recurring Deposit (RD)

SBI RD interest rates vary between 5.1%-5.5% for the general public and an additional interest rate hike of 50 basis points for senior citizens. 

The interest rate on RD for tenure from one year to less than 2 years will fetch you 5.1%. The interest rate on FD for tenure two years to less than three years has been increased by 10 basis points to 5.20 per cent from the earlier 5.10 per cent. For three years to less than five years tenure, the rate has been increased to 5.45%. For five years to 10 years tenure, the interest rate has been increased to 5.50 per cent 

SBI RD rates effective 15 February 2022

1 year to less than 2 years - 5.1%

2 years to less than 3 years - 5.2%

3 years to less than 5 years - 5.45%

5 years and up to 10 years - 5.5%

SBI has hiked interest rates on FDs by up to 15 basis points (bps) with effect from February 15, 2022. These rates are applicable for FDs worth less than ₹2 crore. SBI has left the interest rates on FDs for tenure up to two years unchanged.