SBI RD Interest Rates

What is the State Bank of India Recurring Deposit?

State Bank of India Recurring Deposit is a savings scheme that enables customers to make a fixed deposit every month for a given period. The plan encourages disciplined savings and also earns interest on every contribution made on a monthly basis until the date of maturity. The interest rate for a recurring deposit in SBI depends on the selected tenure and prevailing RD interest rates.

The minimum monthly deposit requirement is ₹100 and can be increased in multiples of ₹10 thereafter. Interest is paid on each contribution, and is higher on the earlier payments. All the contributions are subject to periodic interest as per SBI regulations, which is calculated on the accumulated balance and compounded periodically.

Delayed instalments or a premature closure might attract penalties and new interest terms as per the policies of the bank.

State Bank of India RD Interest Rates

The following table provides the SBI recurring deposit interest rates applicable across different tenures for deposits less than ₹3 crore:

*State Bank of India RD Interest Rates w.e.f. December 15, 2025.

Note: RD rates are not separately available, so FD rates are used

Types of State Bank of India Recurring Deposit

State Bank of India offers different recurring deposit options to meet varying savings requirements.

1.  SBI Regular Recurring Deposit

   SBI Regular Recurring Deposit requires fixed monthly contributions for a chosen tenure, with a minimum deposit period of 12 months and a maximum of 120 months. The scheme is available at all SBI branches, with a minimum monthly deposit of ₹100 (in multiples of ₹10 thereafter) and no upper limit on deposits. 

   Penalty charges apply for missed instalments, and service charges may be levied if three or more consecutive instalments remain unpaid and the account is not regularised.

2. SBI e-RD (Holiday Savings Account)

   SBI Holiday Savings Account is a 12-month recurring deposit offered in partnership with Thomas Cook (and formerly Cox & Kings) to help customers fund pre-selected holiday packages. Customers pay 12 monthly instalments, and the partner contributes the 13th instalment, with the total maturity amount used for the planned trip.

3.  SBI Har Ghar Lakhpati RD Scheme

   SBI Lakhpati Recurring Deposit Scheme is a scheme aimed at assisting customers to save ₹1 lakh and above with small monthly deposits. It is offered to persons who are residents, either singly or jointly, and minors who are over 10 years old may open the account on their own or together with a parent or a legal guardian. 

   Deposit tenure is between 3-10 years, and the instalments and amount of maturity are pre-calculated depending on the amount and tenure chosen.

Key Features of the State Bank of India RD

A Recurring Deposit with State Bank of India has a variety of features that promote systematic savings. Key features include:

• Standing Instruction Facility: SBI offers a standing instruction facility, which allows the automatic withdrawal of the monthly instalment amount by using a linked savings or current account, so that the deposits will be made on time.
• Loan Against RD: A customer can take an SBI loan against RD or an overdraft facility on the recurrent deposit balance without closing the account under the conditions of SBI.
• Minimum Monthly Instalment: The minimum monthly instalment starts with ₹100, and the deposits can be created in multiples of ₹10. The maximum limit does not exist, as per bank policies.
• Additional Interest for Senior Citizens: Senior citizens aged 60 years and above are given an addition interest of 0.50% on top of the applicable card price over the tenures available to them.
• Premature Withdrawal Facility: The bank provides the option of SBI RD premature withdrawal. The relevant penalty charges of 1% and new interest rates are applicable in accordance with the deposit policies of the bank.
• Penalty for Delayed Instalments: There is a nominal penalty for the delay of the monthly instalment that varies according to the instalment amount.
• Nomination Facility: SBI RD accounts have nomination benefits, where a customer can nominate a nominee to the deposit.

How to Open a State Bank of India RD

State Bank of India recurring deposits can be opened online or offline based on customer preference.

Online Method

SBI RD can be opened via online or mobile application. Here are the key steps:

• Log in: Log in to SBI Internet Banking or Mobile Banking.
• Select RD: Click on Deposit, then under Deposit Accounts, select Recurring Deposit.
• Enter Details: Enter the amount of the instalment and tenure.
• Choose Account: Choose the linked SBI savings account from which the amount is to be debited.
• Submit Application: Check details and submit.
• Receive Confirmation: Receive confirmation of the RD account opening.

Offline Method

Customers are also able to open an SBI RD with a visit to the closest branch.

• Visit the Branch: Visit the nearest SBI branch and collect the RD Application form.
• Fill Application: Enter your personal details, the amount of the instalment and the tenure.
• Submit Documents: Submit the required KYC documents.
• Provide Payment Details: Select the option of payment or standing instruction option.
• Deposit First Instalment: Make the first payment.
• Receive Confirmation: Get confirmation of RD account opening.

Eligibility Criteria for State Bank of India RD

There are certain eligibility criteria for opening a recurring deposit account at the State Bank of India.

• Eligible Applicants: According to the SBI guidelines, recurrent deposits can be opened by any resident, joint account holder, and minor under guardianship and other qualified institutional organisations.
• Age Requirement: There is no age limit. Minors can also open an account with a parent or guardian.
• Documentation Requirement: The customers are required to provide KYC documents, such as identity proof, address proof, and a photograph, where applicable.
• Bank Account Requirement: The applicants are supposed to hold a current or savings account in SBI to pay the monthly instalments.

Key Takeaways

SBI Recurring Deposit is a savings scheme in which a customer can save a fixed sum every month, starting from ₹100 with a tenor of 12 months to 10 years. The interest rates are different according to the tenure and customer type, with additional benefits being given to the senior citizens and employees. It has features like standing instructions, loan against RD, nomination, and premature withdrawal options. SBI offers multiple RDs, and account opening can be both online and offline, on the basis of eligibility and KYC norms.