Canara Bank can start investing by 50 rupees in the RD account. The duration of deposit money is up to 6 months to 10 years. Can take a loan up to 90 percent on money deposited in RD. Interest joins on every quarter deposit amount.
As much as you earn, start to save only every month, it can raise good capital. If you want, you can resort to Fixed Deposit or Riching Deposit RD. Every month you have to deposit a certain amount in RD and that too for a certain period. Later you get interest with the principal. This return is so that you can run your expense.
How much profit will you have from RD and how many bucks you can get to know? Banks are different rates, on which the RD match is received. If you want, you can buy RD Schemes from the bank or non-banking financial institutions. Before buying, know about the scheme of 5 banks where good returns.
1-Axis Bank
In Axis Bank’s RD, you have to deposit at least Rs 500 each month. There is no limit to the maximum amount. Axis Bank runs RD Scheme from 6 months to 10 years. If you deposit 2000 or more then you will get 300 Axis e-Age Reward Point. 7.5 Percent gets returns with interest and it is 8 percent for senior citizen.
2-Lakshmi Vilas Bank
This bank can invest 100 rupees in RD. Here you get the facility to deposit money for 10 years. The interest is done when the scheme is matched. If you want, you can also open a RD account for single, joint or minor child. You can also take a loan on the RD account and get 7.5 percent interest on the deposit.
3-Kenara Bank
Canara Bank can start investing by 50 rupees in the RD account. The duration of deposit money is up to 6 months to 10 years. Can take a loan up to 90 percent on money deposited in RD. Interest joins on every quarter deposit amount. In this, Senior Citizen is given 0.5 percent more interest. Interest is getting interest to 7.75 percent on the recurring deposite. If you remove money before time, 1 percent will be charged at the total amount.
4-repo bank
This bank gives both Fixed and Flexible RD Schemes to customers. At the fixed recurring deposit, interest is paid at the time of maturity and the interest of every quarterly flexible deposite is given. The period for both the scheme is 1-10 years. You can also take loans on the deposit amount. You get 7.5 percent interest on deposit money.
5-ICICI Bank
ICICI Bank has to deposit minimum 500 rupees every month in the RD Scheme. There is no limit to maximum deposits. Can run a RD account for 6 months to 10 years. Every quarter RD interest is joined and senior citizen gets benefit of additional interest. You get 7.5 percent interest on saving. The bank also gives you loan on the deposit amount. You can apply online or in the branch of the bank.
