Recurring Deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, a recurring deposit (RD) account allows the investor to park a fixed amount of funds at regular intervals; for instance, every month. On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them.
Recurring Deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, a recurring deposit (RD) account allows the investor to park a fixed amount of funds at regular intervals; for instance, every month. On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them.
Recurring Deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income. Unlike a fixed deposit (FD) account, in which a lump-sum amount is locked in for a defined period against a fixed return, a recurring deposit (RD) account allows the investor to park a fixed amount of funds at regular intervals; for instance, every month. On maturity, the depositor is paid a lump-sum amount which includes the periodic investments and the interest income earned on them.
Here is a comparison of recurring deposit (RD) rates offered by State Bank of India (SBI), IndusInd Bank, HDFC Bank and ICICI Bank:
State Bank of India
Recurring deposit rates offered by SBI:
IndusInd Bank
Recurring deposit rates offered by IndusInd Bank:
HDFC Bank
Recurring deposit rates offered by HDFC Bank:
ICICI Bank
Recurring deposit rates offered by ICICI Bank:
Recurring deposit interest rates, once determined, do not change during the tenure. Institutions such as small finance banks and post offices also offer the facility of recurring deposit.
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