Recurring Deposit

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RECURRING DEPOSITS
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• It is an account where the depositor deposits
  fixed amount of funds at regular intervals of
  time.
• The interval can be month, quarter, 6 months, or
  1 year
• Interest rate is calculated on the amount
  deposited
• After a specified duration, the depositor
  receives a lump-sum amount

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Where to open a recurring deposit?

• A recurring deposit can be opened at a bank, or
  post office
• Formal documents such as PAN card, residential
  proof, identity proof, etc. are required to open
  the account
• RD account can be opened for a period of less
  than 6 months, to the maximum period of 10 years

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Advantages of Recurring Deposits

• There are several advantages of opening online
  recurring deposit a few are listed below
• Fixed monthly investment option
• Fixed duration of investment
• Fixed interest rate
• TDS not applicable
• Flexibility of investment

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Eligibility

• Resident individuals
• Hindu Undivided Families
• Private Public Limited Companies
• Trust Societies

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THANK YOU