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How To Open SBI Recurring Deposit (RD) Account Using Net Banking

SBI recurring deposit account create

A recurring deposit (RD) is a type of term deposit that allows you to save a fixed amount of money every month and earn interest on it. RD is a good investment option to build a corpus for their future goals or emergencies.

State Bank of India (SBI) has made it easier to open a RD account online through the Online SBI portal at onlinesbi.sbi.

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In this article, you will get to know the following points on how to create a SBI Recurring deposit (RD) account online,

Let’s see each of these points in detail.

Details required to open a SBI recurring deposit account online

You need the following details to open your recurring deposit account online,

  1. Registered mobile number.
  2. SBI Internet banking username and password.

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In case you have forgotten your Internet Banking details, you can find your username and reset your password online.

Steps to open a SBI Recurring Deposit (RD) account online

To open a Recurring Deposit (RD) account in SBI online,

Step 1: Go to the official website of SBI Online

The SBI Online website homepage
SBI Online homepage
  1. First, go to the official website of SBI Internet Banking at onlinesbi.sbi
  2. Next, click on the ‘Login’ button under Personal Banking.
  3. Next, click on the ‘Continue to Login’ button.
  4. A new page opens up.

(Direct link to the page)

Step 2: Log in to your Internet Banking account

  1. On the new page, enter your internet banking username and password in the specified fields.
  2. Next, enter the captcha code and click on the ‘Login’ button.
  3. An OTP will be sent to your registered mobile number.
  4. Enter it in the specified field and click on the ‘Submit’ button.
  5. You will be logged in.

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Step 3: Open the ‘Deposit’ option

Deposit option under Deposit and investments SBI
The ‘Deposit’ option under ‘Deposit & Investments’ in OnlineSBI
  1. Now, go to the ‘Deposit & Investment’ option.
  2. Next, click on the ‘Deposit’ option.
  3. A new page will open.

Step 4: Select the ‘Recurring Deposit (e-RD)’ option

Recurring deposit account on Online SBI
The ‘Recurring Deposit (e-RD)’ option on SBI Online
  1. Next, click on the ‘Recurring Deposit (e-RD)’ option.
  2. Next, click on the ‘Proceed’ button.
  3. Next, select the ‘Account No./NickName’ of the account you want to use to create the Recurring Deposit.

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Step 5: Fill out the recurring deposit creation form

SBI recurring deposit creation page
SBI Recurring Deposit (RD) account creation page
  1. Next, enter the ‘Amount’ in the specified field.
  2. Next, select the ‘Year’ and ‘Month’ under ‘Tenure of deposit’.
  3. Next, select any option under the ‘Payback Principal and Interest’ section.
  4. Next, select the rest of the options based on your preference.
  5. A pop-up will appear.
  6. Next, click on the ‘OK’ button.

Step 6: Submit recurring deposit creation form

SBI RD account creation form submit page
The ‘Submit’ button for SBI RD account creation
  1. Next, tick the ‘Terms and Conditions’ box.
  2. Next, click on the ‘Submit’ button.
  3. All the details will be shown on the screen.
  4. Next, select the ‘Yes’ or ‘No’ option under ‘Do you want the nominees to be mapped to your term deposit account’ and complete the steps if required.
  5. Next, click on the ‘Confirm’ button.

The Recurring Deposit will be created successfully in SBI Online.

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By following these steps, you can easily create a RD account online and start investing through the SBI Net Banking portal at onlinesbi.sbi.

You can also create a Fixed Deposit or set a Standing Instruction (SI) using the same portal.

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(Disclaimer: The information provided in this article is for educational purposes only. The screenshots/logos used are the intellectual property of the respective owners. dreamtrixfinance.com neither endorses nor is affiliated with the brands/websites mentioned. This is not financial advice.)

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