Recurring account is an account where the depositor deposits fixed amount of funds at regular intervals of time. Here is PowerPoint presentation that covers where to open a recurring account, its advantages and eligibility. Read this presentation to know more!
2. *It is an account where the depositor deposits
fixed amount of funds at regular intervals of
time.
*The interval can be month, quarter, 6 months,
or 1 year
*Interest rate is calculated on the amount
deposited
*After a specified duration, the depositor
receives a lump-sum amount
3. *A recurring deposit can be
opened at a bank, or post
office
*Formal documents such as
PAN card, residential proof,
identity proof, etc. are
required to open the
account
*RD account can be opened
for a period of less than 6
months, to the maximum
period of 10 years
4. *There are several
advantages of opening
online recurring deposit; a
few are listed below:
Fixed monthly investment
option
Fixed duration of
investment
Fixed interest rate
TDS not applicable
Flexibility of investment
