This bank has launched a flexible recurring deposit scheme called as iWish. A senior citizen and NRI will earn some 7.50% and 7% interest rate respectively. Here, effective from July 22, 2019, you can earn 7.25% interest rate on RD chosen for a tenure of 5 years. The interest rates on RD offered by SBI are same as offered in term deposits. At SBI, a five year or more recurring depositaccount, will help you earn 6.25% interest. They can also make monthly deposits in multiples of Rs 5, and depositor can have more than one account in his/her own name, or jointly with another person. This is offered by India Post.Īccording to the India Post website, interested individuals should know that for opening a five-year recurring deposit account, they need to invest a minimum amount of Rs 10 per month. Currently, there is one 5-year recurring deposit scheme, which is allowing customers to just invest Rs 10 per month and earn 7.20% interest rates.
