A Recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.

A user willing to open an RD account with Central Bank of India can choose any amount and term according to your convenience.
The RD Interest Rates offered by Central Bank of India are listed below-
| Tenure | RD Rates for General Citizens | RD Rates for Senior Citizens |
|---|---|---|
| 180 - 270 days | 4.25% | 4.75% |
| 271 - 364 days | 4.25% | 4.75% |
| 1 year to less than 2 years | 5.00% | 5.50% |
| 2 years to less than 3 years | 5.00% | 5.50% |
| 3 years to less than 5 years | 5.00% | 5.50% |
| 5 years & above up to 10 years | 5.00% | 5.50% |
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A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.
Illustration-
| RD Calculator | INR |
|---|---|
| Monthly Deposit Amount | 500 |
| RD in month | 60 |
| Rate of Interest | 7% |
| RD Maturity Amount | INR 35,966 |
| Interest Earned | INR 5,966 |
Investment Amount:₹180,000 Interest Earned:₹18,190 Maturity Amount: ₹198,190RD Calculator
In this scheme, users have a freedom to deposit the amount of their choice every month. Some of features of the scheme are-
Individuals (singly & jointly), minors above 10 years singly, minors below 10 years jointly with Guardian(s), HUF, proprietorship, partnerships, Institutions clubs/trust/societies, corporates etc., are eligible to hold CENT Swa-Shakti Flexi Recurring Deposit Scheme
Interest rate will be as per prevailing term deposit card rate. It will be calculated on daily basis and will be credited every half yearly. An additional 0.5 percent interest is for Senior Citizen
The depositor has to choose monthly core instalment. A minimum monthly core instalment will be INR 100 in the multiples of 100 and a maximum ceiling of INR 1,00,000
In this RD scheme, beside monthly core amount the depositor can also deposit additional fund. The installment can be deposited one or more times during a month, but the total monthly deposit should not exceed 10 times of the core amount. The monthly instalment can be reduced in any month, but it should not be lesser then core amount
This RD scheme offered by Central Bank of India is termed as - Cent Millionaire. Some of the features of the scheme are:
"Jab Chaho Lakhpati Bano" is a deposit product introduced in 2016. It lets you earn an interest in the range of 5.35% to 6.60% p.a. on the deposited amount. Cent Lakhpati scheme is for all citizen, however senior citizens and bank staffs will get additional benefit as per the existing norms.
| Periods in Years | Rate of Interest | Monthly Investment |
|---|---|---|
| 1 | 5.35% | 8100* |
| 2 | 5.40% | 3940* |
| 3 | 5.40% | 2560* |
| 4 | 5.40% | 1870* |
| 5 | 5.60% | 1450* |
| 6 | 5.60% | 1170* |
| 7 | 5.60% | 980* |
| 8 | 5.60% | 830* |
| 9 | 5.60% | 720* |
| 10 | 5.60% | 630* |
Note - The maturity value of the above figures are Rs. 1 Lakh and above.
(any one of the following)
(any one of the following)
For Senior Citizens (any one of the following)
For Minors
Birth Certificate issued by Gram Panchayat/NAC(Notified Area Committee)/Municipal Corporation
In case deposit tenure is over 60 months, and the installment is not paid in the same month, a penal interest of INR 2.00 per month per INR 100 will be charged. In case deposit period of up to 60 months, then a penal interest of INR 1.50 per month per INR 100 will be charged.
A Loan and Advance facility is available under Central Bank of India RD scheme up to 90 percent of the deposit amount and accrued interest. ROI is charged @ROI on deposit+1 percent.
Fund Selection Methodology used to find 10 funds
Here's a list of best performing equity SIPs for an investment horizon of five years and above
Fund NAV Net Assets (Cr) Min SIP Investment 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2025 (%) DSP US Flexible Equity Fund Growth ₹91.9393
↓ -0.64 ₹1,280 500 0.3 8 31.5 27.2 17.3 33.8 Franklin Asian Equity Fund Growth ₹41.4645
↓ -0.29 ₹981 500 -6 2.9 19.9 20.8 5.8 23.7 DSP Natural Resources and New Energy Fund Growth ₹102.954
↓ -0.18 ₹2,528 500 -2.9 -6.2 10 16.5 12.5 17.5 Aditya Birla Sun Life Small Cap Fund Growth ₹93.2851
↓ -2.42 ₹6,120 1,000 -3.4 7.1 7.8 11.5 10.6 -3.7 SBI Small Cap Fund Growth ₹172.241
↓ -2.90 ₹41,059 500 -5.4 3 8.3 10.8 -4.9 Invesco India Growth Opportunities Fund Growth ₹101.65
↓ -1.71 ₹12,178 100 -7.9 1.5 -2.7 18.3 13.5 4.7 Tata India Tax Savings Fund Growth ₹43.8055
↓ -0.53 ₹4,427 500 -6.2 -4.1 -3.7 9.8 8.8 4.9 Bandhan Tax Advantage (ELSS) Fund Growth ₹148.454
↓ -0.78 ₹6,596 500 -3.5 -2.6 -4.9 7.7 8.5 8 Motilal Oswal Multicap 35 Fund Growth ₹59.7114
↓ -1.02 ₹13,446 500 -1.6 4.9 -5 15.1 10.6 -5.6 Tata Equity PE Fund Growth ₹334.56
↓ -4.42 ₹8,239 150 -4.7 -5.1 -6.4 10.3 10.3 3.7 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Oct 26 Research Highlights & Commentary of 10 Funds showcased
Commentary DSP US Flexible Equity Fund Franklin Asian Equity Fund DSP Natural Resources and New Energy Fund Aditya Birla Sun Life Small Cap Fund SBI Small Cap Fund Invesco India Growth Opportunities Fund Tata India Tax Savings Fund Bandhan Tax Advantage (ELSS) Fund Motilal Oswal Multicap 35 Fund Tata Equity PE Fund Point 1 Bottom quartile AUM (₹1,280 Cr). Bottom quartile AUM (₹981 Cr). Bottom quartile AUM (₹2,528 Cr). Lower mid AUM (₹6,120 Cr). Highest AUM (₹41,059 Cr). Upper mid AUM (₹12,178 Cr). Lower mid AUM (₹4,427 Cr). Upper mid AUM (₹6,596 Cr). Top quartile AUM (₹13,446 Cr). Upper mid AUM (₹8,239 Cr). Point 2 Established history (14+ yrs). Established history (18+ yrs). Established history (18+ yrs). Established history (19+ yrs). Established history (17+ yrs). Established history (19+ yrs). Established history (12+ yrs). Established history (17+ yrs). Established history (12+ yrs). Oldest track record among peers (22 yrs). Point 3 Top rated. Rating: 5★ (top quartile). Rating: 5★ (upper mid). Rating: 5★ (upper mid). Rating: 5★ (upper mid). Rating: 5★ (lower mid). Rating: 5★ (lower mid). Rating: 5★ (bottom quartile). Rating: 5★ (bottom quartile). Rating: 5★ (bottom quartile). Point 4 Risk profile: High. Risk profile: High. Risk profile: High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Point 5 5Y return: 17.30% (top quartile). 5Y return: 5.77% (bottom quartile). 5Y return: 12.51% (upper mid). 5Y return: 10.64% (upper mid). 5Y return: 10.78% (upper mid). 5Y return: 13.55% (top quartile). 5Y return: 8.79% (bottom quartile). 5Y return: 8.53% (bottom quartile). 5Y return: 10.59% (lower mid). 5Y return: 10.34% (lower mid). Point 6 3Y return: 27.19% (top quartile). 3Y return: 20.75% (top quartile). 3Y return: 16.47% (upper mid). 3Y return: 11.54% (lower mid). 3Y return: 8.26% (bottom quartile). 3Y return: 18.34% (upper mid). 3Y return: 9.82% (bottom quartile). 3Y return: 7.67% (bottom quartile). 3Y return: 15.10% (upper mid). 3Y return: 10.30% (lower mid). Point 7 1Y return: 31.45% (top quartile). 1Y return: 19.94% (top quartile). 1Y return: 9.99% (upper mid). 1Y return: 7.83% (upper mid). 1Y return: 0.00% (upper mid). 1Y return: -2.65% (lower mid). 1Y return: -3.67% (lower mid). 1Y return: -4.95% (bottom quartile). 1Y return: -5.04% (bottom quartile). 1Y return: -6.43% (bottom quartile). Point 8 Alpha: -4.45 (bottom quartile). Alpha: 0.00 (lower mid). Alpha: 0.00 (bottom quartile). Alpha: 0.00 (bottom quartile). Alpha: 1.23 (upper mid). Alpha: 7.80 (top quartile). Alpha: 4.83 (top quartile). Alpha: 0.58 (upper mid). Alpha: 4.27 (upper mid). Alpha: 0.14 (lower mid). Point 9 Sharpe: 1.20 (top quartile). Sharpe: 1.04 (top quartile). Sharpe: 0.50 (upper mid). Sharpe: 0.62 (upper mid). Sharpe: 0.14 (upper mid). Sharpe: 0.14 (lower mid). Sharpe: -0.06 (bottom quartile). Sharpe: -0.30 (bottom quartile). Sharpe: -0.06 (lower mid). Sharpe: -0.30 (bottom quartile). Point 10 Information ratio: -0.08 (bottom quartile). Information ratio: 0.00 (upper mid). Information ratio: 0.00 (lower mid). Information ratio: 0.00 (lower mid). Information ratio: -0.29 (bottom quartile). Information ratio: 1.34 (top quartile). Information ratio: 0.25 (upper mid). Information ratio: -0.66 (bottom quartile). Information ratio: 0.75 (top quartile). Information ratio: 0.34 (upper mid). DSP US Flexible Equity Fund
Franklin Asian Equity Fund
DSP Natural Resources and New Energy Fund
Aditya Birla Sun Life Small Cap Fund
SBI Small Cap Fund
Invesco India Growth Opportunities Fund
Tata India Tax Savings Fund
Bandhan Tax Advantage (ELSS) Fund
Motilal Oswal Multicap 35 Fund
Tata Equity PE Fund