Recurring Deposits (RDs): A Savings Strategy

Recurring Deposits (RDs) are a popular savings instrument offered by banks and financial institutions. It's a systematic way to save money by depositing a fixed amount at regular intervals, typically monthly or quarterly.

How RDs Work-

• Regular Deposits: You commit to depositing a fixed amount at regular intervals.
• Interest Accrual: Interest is earned on your deposits and accumulates over time.
• Maturity: Upon maturity, you receive the total accumulated amount, including your principal deposits and the accrued interest.
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Benefits of RDs:-

• Disciplined Savings: Encourages regular and disciplined savings habits.
• Higher Interest Rates: RDs often offer higher interest rates compared to traditional savings accounts.
• Systematic Investment: Provides a systematic way to invest for specific goals.