1,000 will be invested from your bank account and it will get accumulated in the Recurring Deposit and will accrue interest at the rate that was offered.
1,000 Recurring Deposit for 2 years 9% interest. Each month that fixed amount is invested and you earn interest (at a predefined rate) on the Recurring Deposit.įor example – You can open a Rs. You open a Recurring Deposit for a fixed amount and for a fixed tenure. Recurring Deposits are often rightfully called one of the simplest financial products in the world. However, many investors are still confused regarding this straightforward product.Īlso, I will share tips on extracting the maximum benefit out of Recurring Deposits and on using this product to lead a better financial life. Most investors know about Recurring Deposits and have used them at some point of time.
Today I will talk about the simplest financial product known to me – the Recurring Deposit or RD as it is called.
