Recurring Deposit - PowerPoint PPT Presentation

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Recurring Deposit

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Recurring account is an account where the depositor deposits fixed amount of funds at regular intervals of time. Here is PowerPoint presentation that covers where to open a recurring account, its advantages and eligibility. Read this presentation to know more! – PowerPoint PPT presentation

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Title: Recurring Deposit


1
RECURRING DEPOSITS
2
  • It is an account where the depositor deposits
    fixed amount of funds at regular intervals of
    time.
  • The interval can be month, quarter, 6 months, or
    1 year
  • Interest rate is calculated on the amount
    deposited
  • After a specified duration, the depositor
    receives a lump-sum amount

3
Where to open a recurring deposit?
  • A recurring deposit can be opened at a bank, or
    post office
  • Formal documents such as PAN card, residential
    proof, identity proof, etc. are required to open
    the account
  • RD account can be opened for a period of less
    than 6 months, to the maximum period of 10 years

4
Advantages of Recurring Deposits
  • There are several advantages of opening online
    recurring deposit a few are listed below
  • Fixed monthly investment option
  • Fixed duration of investment
  • Fixed interest rate
  • TDS not applicable
  • Flexibility of investment

5
Eligibility
  • Resident individuals
  • Hindu Undivided Families
  • Private Public Limited Companies
  • Trust Societies

6
THANK YOU
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