How to Open RD in SBI Online?

Recurring Deposit (RD)
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How to open RD in SBI through net banking?

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Opening an RD or Recurring Deposit online is easy, and all you need to do is log in to the SBI net banking portal.

Let me tell you how to open an RD in SBI Bank online by breaking it down into a few simple steps:

  1. Log in to the SBI Net Banking Portal with your User ID and Password.
  2. Head to the ‘Fixed Deposit’ and click on the ‘e-RD (Recurring Deposit)’ option.
  3. Here you can create a new RD account. Input the amount for your new RD, tenure bank account details, etc.
  4. Now you need to agree to the terms and conditions and click submit to create the RD.

For your convenience, I am adding a few details that you must look forward to before creating an RD at SBI:

  • You must choose a tenure between 12 and 120 months.
  • You must deposit a minimum of ₹100 every month, which the bank deducts directly from your linked account.
  • The maximum interest rates are 7.00% for regular accounts and 7.50% for senior citizens.
  • Any delayed payment leads to an additional penalty.
  • Keep your ID and address proof handy and provide them when creating the account.
  • Also, remember to add a nominee while creating your RD with SBI online.