recent days Due to the increase in interest rates on FD several times in 2017, the trend of investors has returned towards banking savings scheme. As per the recent data, a lot of investors are once again opting for FDs. Amidst all this, for investors who want to achieve their financial goals by investing small amounts every month, Recurring Deposit (RD) is a great option. Very good interest is being given on RD in bank and post office. If you want great returns on your investment, then you can opt for RD. Recurring Deposit interest rates are calculated on the basis of quarterly compounding. The interest rates vary depending on the tenure chosen by the customers.
You can open RD in banks for six months to ten years. The interest rates do not change during the entire tenure. Like fixed deposits, investors have the option of receiving interest payments in one go or regularly. With banks increasing interest rates on their fixed deposits (FDs), interest rates on recurring deposits have also increased. We are telling you that after increasing the interest rate, in which bank or post office you are getting the highest interest.