Bank RD vs Post office RD: How much maturity amount will you get if you invest Rs 5,000/month on RD for 5 years?

What is RD (Recurring Deposit)?

• A savings option allowing fixed monthly deposits with interest benefits.

• Available in banks and post offices.

• Post office RD has a fixed tenure of 5 years; banks offer varied options.

Investment Details

• Deposit Rs 5,000 per month for 5 years.

• Total investment: Rs 3,00,000 over 5 years.

Bank RD Returns

State Bank of India (SBI)
Interest Rates:
General citizens: 6.75%
Senior citizens: 7.25%

Returns

General citizens:
Maturity amount: Rs 3,57,298
Interest: Rs 57,298

Senior citizens:

Interest: Rs 62,046
Maturity amount: Rs 3,62,046

Canara Bank

Interest Rates:
General citizens: 6.80%
Senior citizens: 7.30%
Returns:
General citizens:
Interest: Rs 57,771
Maturity amount: Rs 3,57,771
Senior citizens:
Interest: Rs 62,526
Maturity amount: Rs 3,62,526

HDFC Bank

Interest Rates:
General citizens: 7%
Senior citizens: 7.5%
Returns:

General citizens:
Interest: Rs 59,667
Maturity amount: Rs 3,59,667
Senior citizens:
Interest: Rs 64,448
Maturity amount: Rs 3,64,448

ICICI Bank

Interest Rates:
General citizens: 7%
Senior citizens: 7.5%
Returns:
General citizens:
Maturity amount: Rs 3,59,667
Senior citizens:
Maturity amount: Rs 3,64,448

Post Office RD Returns

Post Office RD
Interest Rate: 6.7%
Returns:
Interest: Rs 56,830
Maturity amount: Rs 3,56,830

Top Banks for Higher Returns

Top Banks for Higher Returns
For General Citizens:
HDFC and ICICI (Rs 3,59,667)
For Senior Citizens:
HDFC and ICICI (Rs 3,64,448)

Post Office vs Banks

Banks offer slightly higher interest rates than post offices, leading to better returns.

Conclusion

• For maximum RD returns, consider HDFC or ICICI.

• Post Office RD is a stable, slightly lower-return option.