Recurring deposit scheme offered by the SBI Bank provides an opportunity to build-up saving through regular monthly deposits of fixed sum over a period of time.
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 SBI Bank can choose any amount and term according to your convenience.
Here're the the interest paid by the bank to general citizens-
Tenure | RD Interest Rates |
---|---|
1 year to less than 2 years | 5.00% |
2 years to less than 3 years | 5.10% |
3 years to less than 5 years | 5.30% |
5 years to 10 years | 5.40% |
Here're the the interest paid by the bank to senior citizens-
Tenure | RD Interest Rates |
---|---|
1 year to less than 2 years | 5.50% |
2 years to less than 3 years | 5.60% |
3 years to less than 5 years | 5.80% |
5 years to 10 years | 6.20% |
Investment Amount:₹180,000 Interest Earned:₹20,059 Maturity Amount: ₹200,059RD Calculator
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 |
Talk to our investment specialist
Currently, there are two types of RD accounts offered by the State Bank of India:
SBI Regular Recurring Deposits can be opened for regular savings. Users can open this RD account by making minimum monthly deposits of INR 100 or more as per their wish.
SBI bank joined hands with the leading travel advisory company, Thomas Cook and formed SBI Holiday Savings Account. If you love travelling then this RD account is for you. Under this account, a user can deposit a certain amount of money every month with an intention to avail a vacation. The list of vacation under this scheme is mentioned in the Thomas Cook website.
Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic Basis - daily, weekly, monthly or quarterly.
You need to deposit a small amount of money at every interval. The minimum amount can be as low as INR 500.
SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors.
SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly etc.
Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns.
To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges.
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 (%) 2024 (%) DSP US Flexible Equity Fund Growth ₹71.2539
↓ -0.18 ₹1,000 500 12.4 35.4 29.1 24.3 18.5 17.8 Franklin Asian Equity Fund Growth ₹34.3467
↑ 0.58 ₹260 500 9.6 20 12.3 14.7 5.1 14.4 ICICI Prudential Banking and Financial Services Fund Growth ₹133.56
↑ 0.19 ₹9,688 100 -1.2 9.1 6.8 16.9 21.4 11.6 Aditya Birla Sun Life Banking And Financial Services Fund Growth ₹60.53
↑ 0.08 ₹3,374 1,000 -2 8.9 4.8 17 21.5 8.7 Invesco India Growth Opportunities Fund Growth ₹100
↑ 0.02 ₹8,125 100 -1.4 14.6 4.3 25.1 23.2 37.5 Kotak Standard Multicap Fund Growth ₹84.877
↑ 0.53 ₹53,626 500 -2.1 10.7 1.7 18.2 19.3 16.5 Mirae Asset India Equity Fund Growth ₹112.699
↑ 0.28 ₹39,477 1,000 -0.9 8.7 -0.4 14 16.7 12.7 Kotak Equity Opportunities Fund Growth ₹343.007
↑ 2.61 ₹27,655 1,000 -0.4 11 -1.1 20.1 22.1 24.2 Franklin Build India Fund Growth ₹141.794
↑ 1.03 ₹2,884 500 -0.9 9.7 -1.8 29 33.7 27.8 DSP Equity Opportunities Fund Growth ₹615.617
↑ 3.18 ₹15,356 500 -1.4 6.8 -2.6 20.8 22.7 23.9 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 1 Oct 25 Research Highlights & Commentary of 10 Funds showcased
Commentary DSP US Flexible Equity Fund Franklin Asian Equity Fund ICICI Prudential Banking and Financial Services Fund Aditya Birla Sun Life Banking And Financial Services Fund Invesco India Growth Opportunities Fund Kotak Standard Multicap Fund Mirae Asset India Equity Fund Kotak Equity Opportunities Fund Franklin Build India Fund DSP Equity Opportunities Fund Point 1 Bottom quartile AUM (₹1,000 Cr). Bottom quartile AUM (₹260 Cr). Upper mid AUM (₹9,688 Cr). Lower mid AUM (₹3,374 Cr). Lower mid AUM (₹8,125 Cr). Highest AUM (₹53,626 Cr). Top quartile AUM (₹39,477 Cr). Upper mid AUM (₹27,655 Cr). Bottom quartile AUM (₹2,884 Cr). Upper mid AUM (₹15,356 Cr). Point 2 Established history (13+ yrs). Established history (17+ yrs). Established history (17+ yrs). Established history (11+ yrs). Established history (18+ yrs). Established history (16+ yrs). Established history (17+ yrs). Established history (21+ yrs). Established history (16+ yrs). Oldest track record among peers (25 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: High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: High. Risk profile: Moderately High. Point 5 5Y return: 18.49% (bottom quartile). 5Y return: 5.06% (bottom quartile). 5Y return: 21.43% (lower mid). 5Y return: 21.52% (upper mid). 5Y return: 23.16% (top quartile). 5Y return: 19.27% (lower mid). 5Y return: 16.72% (bottom quartile). 5Y return: 22.14% (upper mid). 5Y return: 33.70% (top quartile). 5Y return: 22.74% (upper mid). Point 6 3Y return: 24.25% (upper mid). 3Y return: 14.74% (bottom quartile). 3Y return: 16.91% (bottom quartile). 3Y return: 17.02% (lower mid). 3Y return: 25.11% (top quartile). 3Y return: 18.18% (lower mid). 3Y return: 13.97% (bottom quartile). 3Y return: 20.12% (upper mid). 3Y return: 28.96% (top quartile). 3Y return: 20.76% (upper mid). Point 7 1Y return: 29.11% (top quartile). 1Y return: 12.25% (top quartile). 1Y return: 6.83% (upper mid). 1Y return: 4.80% (upper mid). 1Y return: 4.34% (upper mid). 1Y return: 1.73% (lower mid). 1Y return: -0.44% (lower mid). 1Y return: -1.15% (bottom quartile). 1Y return: -1.77% (bottom quartile). 1Y return: -2.60% (bottom quartile). Point 8 Alpha: -2.48 (lower mid). Alpha: 0.00 (upper mid). Alpha: -2.57 (bottom quartile). Alpha: -6.06 (bottom quartile). Alpha: 11.03 (top quartile). Alpha: 3.91 (top quartile). Alpha: 1.60 (upper mid). Alpha: 0.72 (upper mid). Alpha: 0.00 (lower mid). Alpha: -3.26 (bottom quartile). Point 9 Sharpe: 0.77 (top quartile). Sharpe: 0.49 (top quartile). Sharpe: 0.03 (upper mid). Sharpe: -0.18 (upper mid). Sharpe: 0.03 (upper mid). Sharpe: -0.37 (lower mid). Sharpe: -0.52 (bottom quartile). Sharpe: -0.51 (lower mid). Sharpe: -0.64 (bottom quartile). Sharpe: -0.78 (bottom quartile). Point 10 Information ratio: -0.62 (bottom quartile). Information ratio: 0.00 (lower mid). Information ratio: 0.32 (upper mid). Information ratio: 0.14 (upper mid). Information ratio: 1.26 (top quartile). Information ratio: 0.19 (upper mid). Information ratio: -0.17 (bottom quartile). Information ratio: 0.13 (lower mid). Information ratio: 0.00 (bottom quartile). Information ratio: 0.46 (top quartile). DSP US Flexible Equity Fund
Franklin Asian Equity Fund
ICICI Prudential Banking and Financial Services Fund
Aditya Birla Sun Life Banking And Financial Services Fund
Invesco India Growth Opportunities Fund
Kotak Standard Multicap Fund
Mirae Asset India Equity Fund
Kotak Equity Opportunities Fund
Franklin Build India Fund
DSP Equity Opportunities Fund
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