Recurring deposit meaning: in banking terminology, the term recurring deposit refers to the periodic placement of a fixed sum of funds with a bank or financial institution into a special. For example: if you open a fixed deposit account in state bank of india (sbi) the minimum deposit will be rs 1000 whereas in the case of recurring deposit an investment of rs 100 is.
A recurring deposit is an investment cum savings option this is a good avenue for those who want to save regularly and earn a higher interest rate every month, a fixed amount of money is. Open a recurring deposit account from icici bank and get rd interest rates between 675% and 775% based on age & tenure visit us now to know more. The attraction for a fixed deposit and a recurring deposit is the fixed returns with safety of money invested but when you compare the two, a fixed deposit scores higher than a recurring. If you know how a systematic investment plan of mutual funds works, then you will easily understand recurring deposits in a recurring deposit (rd) a fixed instalment is made every month and.
Flexible recurring deposits: another advantage of investing money in a recurring deposit account is flexibility a flexible recurring deposit is a scheme in which a person can invest any.
For a recurring deposit account, only one nominee either single or joint is eligible you can change the nominee whenever you want minors are also eligible for recurring deposit.
Recurring deposit by hdfc bank offers you to invest small amount on a regular basis and earn interest as high as fixed deposits open a rd account with hdfc bank now recurring deposit by.