Sbi Recurring Deposit Interest Rate

3/21/20223/21/2022

Want to create a fund for your children’s education or marriage or to buy a car or for a dream holiday? Whatever may be your financial goals, through our Recurring Deposit Scheme you can save a little every month so that at the time of need you have sufficient funds to achieve your financial goals. Recurring Deposit provides you the element of compulsion to save at rates of interest applicable to Term Deposits along with liquidity to access that savings any time. So set aside a small amount every month and earn at compounded rates of interest.

SBI RD Calculator. Most people opt for recurring deposits to earn something extra on their savings. The maturity amount on your RD depends on various factors such as the deposit amount, the rate of interest, tenure of the RD, TDS, and other such factors. SBI allows opening an RD account for a period of 7 days to 10 years depending on the financial goals of the customer. The SBI recurring deposit interest rates offered by the bank on deposit less than Rs. 2 crore is 4.50% and 6.25%. Senior citizens are offered with an additional interest of 0.50% on normal interest rates.

Wide Choice in Period of Deposit

Rate of Interest as applicable to Term Deposits The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens of age 60 years and above will be 0.50% above the applicable rate. The rate of interest as applicable to the SBI annuity scheme is the same as SBI FD. (Mint) SBI annuity scheme vs fixed deposit vs recurring deposit: Investment cheat sheet.

Flexibility in period of deposit

Low minimum monthly deposit amount.

You can start a Recurring Deposit with SBI Muscat for a monthly instalment of OMR 25 only.

SBI Muscat Fixed Deposit Rates Apply

Check out our Interest Rates Online

Choose the amount you wish to invest and the maturity period.

Highlights

Safety

We understand the value of your hard earned money and continue to deliver on our promise of safety and security.

Regular Instalments to your Account

Now you have motivation/compulsion to save a chosen amount every month and create a fund, which helps you to meet your future financial needs.

Liquidity
Loan facility: You can avail a loan against your Recurring Deposit. SBI Muscat provides you loan @ 1.50% above the rate payable on the Recurring Deposit which is being offered as security. So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

Easy and convenient access of information at SBI Muscat Internet Banking

Other Benefits

Regular Instalments to your Account
Save in your account through Fixed Monthly Instalments.
Monthly Instalments can be deposited on any working day of the month.
Instalments payable in multiples of OMR 25

Free Fund Transfer

Free transfer of your funds through standing instructions from your Current or Savings Bank Account to your Recurring Deposit Account every month for the payment of your instalments, so that you do not have to worry about regular payments.

Regular Updates

You can monitor your deposit through SBI Muscat Internet Banking