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sbi recurring deposit interest rate
In Miscellaneous  -  Asked by gdfg -  3 years ago

Best Answer:
On Recurring deposit bank offers high rates of interest applicable to Term Deposits alongwith liquidity to access that savings any time.So set aside a small amount every month and earn at compounded rates of interest. You get
# Flexibility in period of deposit with maturity ranging from 12 months to 120 months.
# Low minimum monthly deposit amount.
# You can start a Recurring Deposit with SBI for a monthly instalment of Rs.100/- only.
You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
3 years ago - By Somu

Other Answers (2)
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Answer 1.
I have got recurring deposit account for my younger brother so that he gets a habit of saving money.
3 years ago - By Shanti
Answer 2.
Recurring deposit is also best investment option for those you cannot invest large amount. In this you can save small amount of every month and earn interest as on fixed deposit. This helps in developing saving habits also you get a big amount of money which you have saved in your financial need.
3 years ago - By Yash
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Not shown in Form 26AS of I.tax
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