SBI RD Interest Rates

SBI offers Recurring Deposit at interest rates of 7.25% to 7.75% p.a. to senior citizen depositors and 6.50% to 7.25% p.a. to other depositors with minimum monthly deposit of Rs 100.  The tenure for SBI RD ranges from 1 year to 10 years. The SBI Recurring Deposit Scheme allows depositors to save money over time by making regular monthly deposits of a defined amount and have sufficient funds at the end of the tenure to meet their financial goals.

SBI Recurring Deposit Highlights

Interest rates
Highest slab rate	7.10% p.a. (400 days)
1 year	6.80% p.a.
2 year	7.00% p.a.
3 year	6.75% p.a.
4 year	6.75% p.a.
5 year	6.50% p.a.
Tenure
Minimum	1 year
Maximum	10 year
Monthly investment
Rs 100 per month and thereafter in multiples of Rs 10

Note: Interest rates as of 17 January 2025

SBI RD Interest Rates

SBI RD interest rates are the same as SBI Fixed Deposit Interest Rates Scheme for public and senior citizens. The bank has not set any separate interest rates for its Recurring Deposit scheme. Below are the RD interest rates offered by the SBI.

SBI Recurring Deposit Interest Rates of less than Rs 3 crore w.e.f. 15 June 2024

Tenors	Interest Rates (p.a.)
	General Public	Senior Citizens
1 year to less than 2 years	6.80%	7.30%
2 years to less than 3 years	7.00%	7.50%
3 years to less than 5 years	6.75%	7.25%
5 years and up to 10 years	6.50%	7.50%*
400 days (Amrit Kalash)	7.10%	7.60%
444 days (Amrit Vrishti)	7.25%	7.75%

Features of SBI Recurring Deposit Scheme

• Minimum monthly instalment: Rs 100 (thereafter in multiples of Rs 10)
• Minimum tenure: 1 year
• Maximum tenure: 10 years
• Account will be prematurely closed and the balance will be paid to the account holder if six consecutive instalments are not paid.
• Depositors can avail Overdraft against SBI RD account
• Late payment penalty will be applicable
• Depositors can transfer their SBI RD account from one SBI branch to another
• Depositors get a universal passbook
• Nomination is available in favour of the individual only

Frequently Asked Questions (FAQs)

1. Are SBI RD interest rates different from FD rates?

Ans. No. SBI FD rates and SBI RD rates are the same across tenure. However, for RD, interest rates are applicable to tenure 1 year and above.

2. Can one make RD for 6 months?

Ans. No. The minimum period for booking an SBI RD is 1 year.

3. Will the interest on RD be taxable?

Ans. Yes. Since it is interest income, it will be taxable as per the IT Act.

4. Can a customer convert his/her RD into a fixed deposit after maturity?

Ans. Yes. SBI lets customers convert their RD to FD on maturity.