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What is a Recurring Deposit (RD)?

A Recurring Deposit (RD) is a popular savings option in India, offered by banks and financial institutions. It lets you save a fixed amount monthly for a chosen tenure, earning interest on your deposits. RDs are a safe, low-risk way to build wealth steadily with guaranteed returns.

Key Benefits of Recurring Deposits

Secure Investment

RDs offer low risk and assured returns.

Savings Discipline

Promotes consistent monthly savings habits.

Predictable Growth

Fixed interest rates ensure steady earnings.

Flexible Withdrawal

Access funds early with a small penalty if needed.

Recurring Deposit FAQs

RD terms typically range from 6 months to 10 years, varying by bank.

Interest is compounded monthly or quarterly, based on the bank’s policy, using a reducing balance method.

Yes, most banks allow premature closure, though a small interest penalty may apply.

Yes, TDS applies if interest exceeds the annual threshold. Submit Form 15G/15H to avoid TDS if your income is below taxable limits.