State Bank of India (SBI) recurring deposit has terms period ranging from 12 months to 120 months. SBI RD interest rates vary between 6.70% and 6.85% for regular customers and an additional interest rate hike of 0.50 percentage points for senior citizens. The SBI Regular Recurring Deposit is the most common and preferred recurring deposit account offered by SBI. The money you deposit in an SBI recurring deposit account is taxable under the Income Tax Act, 1961. SBI also offers the SBI Flexi Deposit Scheme, which is similar to a recurring deposit.

Source: Mint December 22, 2018 04:52 UTC