Recurring Deposit

A Recurring Deposit is a special kind of Deposit offered by banks. It is an investment tool which permits those with an ability to make regular deposits earn decent returns on their investment.

Basically consisting of regular deposits and an interest component, a Recurring Deposits provides flexibility and ease of use to individuals compare to rigid fixed deposits.

It iis a deposit held at a bank for a fixed term, generally ranging from a month to a few years – term range depends on the product type) If compared to regular savings accounts, the interest earned on recurring deposit is higher.

Customers opt to invest in recurring deposits as they are a safe and secure mode of investment and yield higher returns than regular checking or savings accounts.

Pre-requisites

Features Supported In the Application

The retail module of the application supports the following features:

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