What is a Recurring Deposit and How does it work?
A Recurring Deposit (RD) account serves as a financial tool enabling individuals to save money systematically over a designated duration through regular monthly investments. Investors have the flexibility to determine the deposit tenure and monthly contribution amount according to their preferences. RD schemes offer greater flexibility compared to fixed deposit schemes, making them popular among individuals looking to initiate savings and establish a contingency fund for unforeseen expenses.
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