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What is Recurring Deposit Account (RD)? A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered by Indian Banks. It is an investment tool which allows people to make regular deposits and earn decent returns on the investment.
Open a recurring deposit (RD) account online with ICICI Bank and save up consistently and conveniently from today, so you can reap benefits tomorrow. With our RD facility, you can keep a track of your recurring transactions, avail a loan against your account and do so much more.
Recurring Deposit. Among the low-risk investment tools with moderate and assured returns, Recurring Deposit (RD) is a popular investment option in India. It comes with an option of flexibility for customers in the choice of investment amount and tenure accompanied by multiple other benefits.
With HDFC Bank's Recurring Deposit, you can: An investment as small as Rs. 500 (and in multiples of Rs. 100 there after) or as large as Rs. 2,99,99,900 per month. A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
Aug 17, 2022 · Recurring Deposit scheme provides an opportunity to build up savings through regular monthly deposit of fixed sum over a period and have sufficient funds to achieve specific financial goals at the end of specific period.
Jun 9, 2024 · Recurring Deposit (RD) accounts allow regular monthly investments, flexible tenures, and interest rates 2.5%-7%. Different types include regular, for minors, senior citizens, and NRIs. Features include Rs.100 minimum monthly deposit, premature withdrawal with penalty, and opening for residents, senior citizens, and NRIs.
A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]
