With the help of recurring deposit account, you can fulfill your small dreams

It is not easy for limited-income people to collect money for children's education, marriage or car. But Recurring Deposit (RD) is a scheme that can make your work easier. The special thing about this scheme is that in this you not only get better interest from FD as well as your money is also safe. Today we are telling you today how you can prepare a huge amount of 10 lakh rupees by investing only 200 rupees daily in RD. You can be recurring direct deposit in the bank. Nowadays almost all banks are providing online recurring deposit facility, you can easily open your recurring deposit account.

 

Know here where you will get more benefit by investing in RD?

 

Bank of India (BOI)

 

Term	Interest Rate of RD (%)
1 year and less than 2 years	6.65
2 years and under 3 years	6.70
3 years and under 6 years	6.50
8 year to 10 years	6.35

 

 

Bank of India is paying 6.35% interest on 10-year RD. If you invest 200 rupees or 6 thousand rupees a month in this, then after 10 years, after the interest rate of RD 6.35 per cent per annum, it will be about 1,005,625 rupees. That is, you will get 285,625 rupees as interest.

 

ICICI Bank

 

Term	Interest Rate of RD (%)
1 year and less than 2 years	5.80
2 years and under 3 years	5.80
3 years and under 5 years	6.00
5 year to 10 years	6.00

 

 

ICICI Bank is paying 6% interest on 10-year RD. If you invest 200 rupees or 6 thousand rupees a month in this, then after 10 years, according to the interest rate of RD 6% per annum, it will be about 986,574 rupees. That is, you will get 266,574 rupees as interest.

 

Punjab National Bank (PNB)

 

Term	Interest Rate of RD (%)
1 year and less than 2 years	5.80
2 years and less than 3 years	5.80
3 years and under 5 years	5.80
5 year to 10 years	5.80

 

 

Punjab National Bank is paying 5.8% interest on 10-year RD. If you invest 200 rupees or 6 thousand rupees a month in this, then after 10 years, it will become around 975,885 rupees, according to the interest rate of RD 5.8% per annum. That is, you will get 255,885 rupees as interest.

 

State Bank of India (SBI)

 

Term	SBI RD Interest Rates (%)
1 year and less than 2 years	5.50
2 years and less than 3 years	5.50
3 years and under 5 years	5.70
5 year to 10 years	5.70

 

 

If you invest 200 rupees or 6 thousand rupees a month on getting RD in the State Bank of India, then after 10 years at the interest rate of RD 5.7% per annum, it will be about 970,594 rupees. That is, you will get 250,594 rupees as interest.

 

RD in Post Office

 

India Post's RD is getting 5.8% interest. If you invest 200 rupees or 6 thousand rupees a month in this, then after 10 years, it will become around 975,885 rupees, according to the interest rate of RD 5.8% per annum. That is, you will get 255,885 rupees as interest.

 

Disclaimer: This calculation is done in a rough manner. Banks and post offices periodically review interest rates.