What is recurring fixed deposit?

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by Santosh Kumar Singh in General Discussions

Santosh Kumar Singh

872 7.54k 86.3k

15 years ago

What is recurring fixed deposit?

Santosh Kumar Singh

http://experienceofknowledge.blogspot.com/

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Harish Jharia

137 787 10k

15 years ago

#3829

Hello Santosh Kumar Singh,

Recurring deposit and fixed deposit are different.

In Recurring deposit you need to deposit a fixed amount every month for a a period of 1,2,3 or more years and get the total including compound interest on maturity.

- Harish Jharia

Harish Jharia
http://harishjhariasblog.blogspot.com/

Harish Jharia

137 787 10k

15 years ago

#3830

Hello Santosh Kumar Singh,

In fixed deposit you need to deposit a fixed amount like 1000/- 10,000/-, 1,00,000/- for fixed period of time and get returns on maturity along with the compound interest.

- Harish Jharia

Harish Jharia
http://harishjhariasblog.blogspot.com/

Anusha.M

35 262 9.05k

15 years ago

#3850

Fixed Deposit:

Fixed Deposits is investing a particular some for a particular period and interest calculated annually or quarterly in some schemes and the interest can be received at the end of period or half yearly, quarterly, monthly etc.

Recurring Deposit :

A fixed amount, not less or more is invested every month for a pre-defined period.interest calculated quarterly and paid only at the end of period not before that.Same rate of interest as of Fixed Deposits in some banks. Other Banks, Recurring rate is very less compared to FD rate.

madhura joshi

0 1 3

12 years ago

#315802

Recurring Deposit is a account in a bank where you can invest your money for a fixed time like 1 year or 2 and many more and after the completion you will get that invested amount with a return.I have my recurring deposit account in Axis Bank and i really receive good return with good offers from them.

Sharmistha Banerjee

32 2.76k 21.2k

12 years ago

#315827

Recurring Deposits are a special kind of Term Deposits offered by banks in India 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.

Sharmistha Banerjee

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