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| Definition | : | Recurring Deposit |
| Category | : | Business » Banking |
| Country/ Region |
: | India
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| Popularity | : |
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Recurring Deposit (RD) is a special kind of term deposit offered by banks in India. Under this scheme, the customer deposits a fixed amount every month into their Recurring Deposit account and the bank pays the interest at the pre-determined rates. The interest rate is usually similar to that in Fixed Deposits (FD). At the end of the term, the customer get the maturity value (total sum deposited + Interest).
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The full form of RD is Recurring Deposit
Recurring Deposit | Registered Dietitian