Recurring Deposit

Under a Recurring Deposit account (RD account), a specific amount is invested in the bank on a monthly basis for a fixed rate of return. The deposit has a fixed tenure, at the end of which the principal sum as well as the interest earned during that period is returned to the investor. You can deposit a specified amount (multiples of Rs. 100/- monthly) for 12, 24, 36, 48, 60 months.

The advantage of opening a Recurring Deposit Account is that the Depositor would be able to save certain sums in fixed monthly Installments so that he/she would be able to meet an anticipated liability /obligation after the end of a specified period.