How to Open a Recurring Deposit (RD) Account in SBI?
There are two ways to start a recurring deposit account with SBI:
1. Offline Method: Fill up an Recurring Deposit Account opening form and submit the needed documentation at the nearest SBI branch. It takes an hour to twenty four for you to receive the RD certoficate from the bank.
2. Online Method: If you are an existing SBI client with an active internet banking account, log in with your net banking username and password and start an e-RD straight away. If you do not already have an SBI account, you must first open one. After the account is activated, you can use online banking to open an e-RD.
SBI RD Interest Rates 2023 | Recurring Deposit Calculator
The State Bank of India provides an extensive selection of deposit schemes to enable individuals to make investments for both extended and immediate periods. SBI’s initiatives, as the most prominent bank in India, have garnered excellent results and superior returns for several decades, which has established them as a highly regarded investment option among consumers. Customers can obtain lucrative RD interest rates from SBI with an initial deposit of just ₹100. SBI permits customers to establish RD accounts for terms ranging from seven days to ten years, contingent on their specific financial objectives. The SBI RD rates of interest on deposits below ₹2 crores are 5% and 5.40%, respectively. Seniors are eligible to receive an extra 0.50% on top of the standard interest rate.
Table of Content
- Interest Rates for SBI Recurring Deposits (RD) in 2023 (Below ₹2 Crore)
- Features of SBI Recurring Deposit (RD) Interest Rates 2023
- How to Open a Recurring Deposit (RD) Account in SBI?
- How to Calculate Recurring Deposit (RD) Interest Rates in SBI?
- Eligibility Criteria for Opening a Recurring Deposit (RD) Account with SBI
- Documents Required for Starting a Recurring Deposit (RD) Account
- Types of SBI Recurring Deposits (RD) Accounts
- SBI Recurring Deposit (RD) Premature Withdrawal
- Frequently Asked Questions