Recurring Deposit (RD)

Benefits of Recurring Deposits (RDs)

Higher interest rates: rds typically offer better interest rates compared to regular savings accounts, allowing your money to grow faster.
Disciplined saving: the requirement to deposit a fixed amount regularly encourages a consistent saving habit, which is crucial for achieving financial goals.
Flexibility: you can start an rd with a small amount and choose a tenure that suits your needs. Some banks even offer flexible deposit amounts and allow for missed installments without penalty.
Low risk: rds are a low-risk investment option, as they offer guaranteed returns and are not subject to market fluctuations.
Goal-based savings: rds can be used to save for specific goals, such as a vacation, down payment on a house, or child’s education.