Recurring deposit

[patilsuraj]

How does recurring deposit works?

[KartikBhatt]

How does recurring deposit works?

A recurring deposit is a financial instrument that enables a depositor to obtain a fixed interest rate over a definite period. A recurring deposit is a type of financial instrument used to manage your financial risk. Some of the products which fall under this category are recurring deposits, fixed-term deposits, recurring deposit schemes, fixed-term deposit schemes, etc.
It means that the same deposit is re-deposited after being withdrawn, which is a popular practice with banks today. As a result, the interest rate of this investment remains the same throughout the deposit term. Shriram City is among financial groups in India that provides an interest rate of 8.50% on Recurring Deposits.