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Recurring Deposits

A recurring deposit is a type of bank deposits wherein an investor instills in a discipline to invest in an amount at predefined sums every month for a fixed tenure.
For those considering planning for short term goals, there is nothing like investing in recurring deposits. Whether your investment horizon is less, don't have lump sum to invest and you need decent returns by investing systematically, look no further than RD.

Recurring deposits an ideal option for fulfilling short term goals, which includes:

  • Maintaining a corpus for a down payment of a new home
  • Funding for education fees for your children
  • Home renovation expenses
  • Higher education expenses if you are in job
  • Upcoming marriage expenses due in 2-3 years (e.g. sister's/brother's marriage)
  • Setting aside funds for a vacation


Eligibility You need to be a Resident Indian with a savings bank account
Entry Age You need to be over 18 years old
Minors can open a deposit with the natural guardian operating it
Investments Minimum: Rs 5 per annum
Maximum: No limit
Senior citizens qualify for special interest rates
Interest Depends on tenure of the deposit
Starts from 6.75 per cent to 9 per cent per annum
Tenure Currently offered for ten years
Account holding categories
  • Individual
  • Joint
  • Hindu Undivided Families (HUF) not engaged in any trading or business activity
  • Companies or Associations or Trust
  • Minor through the guardian
Nomination Facility is available

Recurring deposits are often rightfully categorized as one of the simplest financial product. Highlights:

  • No TDS on interest earned by depositor
  • Loan facility available against the security
  • Flexibility as liquid investments can be en- cashed anytime
  • Easy to start as investing is as meagre as Rs. 1000/-
Contribute towards your goals, fetch attractive returns and make your money work harder for you!