Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
Show me another
what is the current interest rate on recurring deposit in SBI & ICICI BANK& wheather is it taxfree
In Savings Accounts  -  Asked by TANMOY NATH -  4 years ago

Best Answer:
In SBI recurring deposit you earn high rates of interest applicable to Term Deposits along with liquidity to access that savings any time. You 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 installment of Rs.100/- only.

ICICI Bank you invest small amount and earn high rate of interest as applicable to fixed deposits. On recurring deposit you can avail host of facilities such as you can check on recurring account receivable, recurring account payable, recurring account fees and all recurring debit account transactions.
In ICICI bank the minimum balance of deposit is Rs.500 per month and thereafter in multiples of Rs.100. The tenure ranges from 6 months to a maximum period, recurring deposit of 3 months thereafter. Bank has a special feature - Non-applicability of Tax Deduction at Source (TDS).

The interest earn -- to a maximum of Rs 12,000 per year -- is exempt from tax (under Section 80L of the Income Tax Act, 1961).
4 years ago - By Amit

Other Answers (2)
show:
Answer 1.
I have opened recurring deposit account and it is easy to manage the account.
4 years ago - By Rajeev
Answer 2.
In post office also recurring deposit facility is available but in this you can start with as low as Rs 10 per month. You earn fixed rate of interest of 8 per cent. The postal RDA has a fixed tenure of five years.
4 years ago - By Fatima
Answer: Open Questions RSS
+91-8107764125 BLaCk MaGiC SpEcIaLiSt All voodoo SpEcIaLiSt
Spells and tips to get your love back |+|+| +91-9983432002 |+|+|
getting back your ex+91-9950620150
how to get your love back spells +91-9950620150
+91-8107764125 BLaCk MaGiC SpEcIaLiSt Love marriage solutions
View All
Discover: Resolved Questions RSS
09501860028Call Girls Amritsar 09501860028Call Girl Amritsar Call Girls
i want to know the balance in my account my account number is 64070268459
+91-9414692400 love problem solution in Daman & Diu
I WANT CHECK MY BALANCE FROM S B M SAVINGS ACCOUNT
I want to check my account balance .my a/c no. 3169364578
View All
Vote: Undecided Questions RSS
{【{9910255145}】} Noida Indirapuram Vaishali kaushambi gurgaon Paharganj noida Caℓl ℊiℛls In nerul es
how check my blance online
View All
COMPARE RATES
Compare Savings Accounts
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Best FD rates by banks
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
Saving Account Interest Income Calculator
Credit Card Balance Transfer Savings Calculator
Car Loan Amount by EMI Calculator
Car Loan Amount by Down Payment Calculator
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
Banks must inform customers one month prior about falling minimum balance: RBI Nov 21, 2014
New cash withdrawal and deposit facility rolled out by Axis bank Nov 20, 2014
Corporation Bank bagged two Awards Nov 18, 2014
Two new savings account for minors: Andhra bank Nov 17, 2014
Special campaign rolled out by Karnataka Bank Nov 17, 2014
News Archive
EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #1
How to check balance in savings bank account
Personal Finance for the 21st century...
Credit profile and its effect on loan...
Carnival of Indian Personal Finance Blogs #6