What Is Recurring Deposit
- Interest Rates are low when compared to the Fixed Deposit. Applicants get a rate of up to 9% for Fixed Deposits whereas it varies from 7.5% to 8% for Recurring deposits. Recurring Deposits.
- The interest rates on the regular recurring deposits range between 4.75% to 7.50% per annum. Junior RD Schemes - Bank’s also offer recurring deposit schemes for kids. Parents or guardians can open these deposits for their children to start saving for their future, education and other needs. Students can also avail of these deposit schemes.
A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered byShriram City Union Finance Ltd. Recurring deposits enable you make regular deposits and earnbest in segment returns on the investment. Due to the regular deposit factor and an interestcomponent, it often provides flexibility and ease of investments to investors. Similar toFixed deposits, Recurring Deposits are also a contract between you and the Shriram City forthe approved interest rate from the date of investment till maturity.
Recurring Deposit Interest Rates In Post Office
Recurring Deposit Interest Rate Calculator
However, unlike Fixed Deposit in Recurring Deposits you invest amount on regular intervalsunlike one-time investment in Fixed Deposit. Shriram City comes with about 45 years ofunchallenged trust in the Indian market, with over 5 million trusted customer base acrossthe length and breadth of the nation. With investment tenure ranging from 12 months to 60months, Shriram City's RecurringDeposits come with a 'MAA+/ with Stable Outlook' rating byICRA (Indicates high credit quality). However, it is essential to know that Shriram CityRecurring Deposits are different from Shriram City Fixed Deposits. RDs are flexible in mostaspects. An RD account holder can choose to invest a fixed amount each month while earningdecent interest on the amount similar to SIP’s (Systematic Investment Plans). RDs are anideal saving-cum-investment instrument which encourages wealth building habits toindividuals.
Recurring Deposit Interest Rates In Post Office
The HDFC Bank Recurring Deposit Calculator is an online tool to calculate the interest earned on savings in an RD account. To use this online RD calculator, log on to our official website. Key in the amount. Recurring deposits provide a higher rate of interest than a savings account. They are good investment options for those who seek a low-risk instrument. They are also useful for those who want to invest.