Recurring Deposit

Recurring deposit is a special kind of term deposit offered by banks which help 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.

The recurring deposit can be funded by standing instructions which are the instructions by the customer to the bank to withdraw a certain sum of money from his savings/current account and credit to the recurring deposit account.

Features

An Investment as small as Rs.50 (and in multiples of Rs.50 thereafter) or as large as per your wish.
A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.