Recurring Deposit Plan

Recurring Deposit Plan


The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every day, every month for a fixed tenure mostly ranging from one year to five years. This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis. The account can be opened by individuals

RECURRING DEPOSIT ON INVESTMENT OF Rs. 1000 PER MONTH

Amount Rate Total Deposit Term Maturity Amount
1000 9 12000 1 Year 12597
1000 9.5 24000 2 Year 26505
1000 10 36000 3 Year 42075
1000 10.5 60000 5 Year 78960


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