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Recurring Deposit Scheme
Invest your savings wisely by depositing a specific amount every month and earn high-interest payouts with our Recurring Deposit Scheme. It is an ideal investment option for individuals who want to earn a regular income without any risk associated with market fluctuations. The interest rate is fixed for the entire term, providing a guaranteed return on investment.
The rate of interest varies with the duration of the deposit. The longer the deposit term, the higher the interest rate tends to be. A recurring deposit scheme is an attractive investment option for those looking to invest for a longer duration.
The rate of interest varies with the duration of the deposit. The longer the deposit term, the higher the interest rate tends to be. A recurring deposit scheme is an attractive investment option for those looking to invest for a longer duration.
- Secured Investment
- Flexible Tenure Options
- Better-Interest Rate
- Nomination Facility
- Suitable for everyone
- Quick Process
Fixed Interest Rates
Recurring deposits provide a fixed interest rate, which guarantees a certain rate of return on your investment. This makes it a secure and dependable investment choice for those who want to earn interest on their savings without risking their capital.
Flexible Tenures
Recurring Deposits offer flexibility in choosing the deposit duration that matches your financial goals and needs. The tenure for such deposits usually ranges from 1 year to 10 years, enabling you to select the duration that aligns with your financial objectives
The interest earned on the recurring deposit is compounded quarterly and the total amount including the principal and interest is paid upon maturity. In addition, senior citizens are eligible for an extra interest rate, which makes it an even more attractive investment option for those who are above a certain age.
Recurring deposits have no maximum deposit limit, which means you can invest any amount you want. The minimum deposit amount for an RD account is just Rs. 100 per month, making it an accessible investment option for those who want to start small and gradually increase their savings over time.
In case of unforeseen circumstances, premature withdrawal of your Recurring Deposit is allowed with certain charges. It is important to note that premature withdrawal of the deposit may result in a lower interest rate and hence lower returns on your investment. Therefore, it is recommended to carefully consider the need for premature withdrawal before making the decision.
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