Are you looking for an investment option that is safe and gives you good returns? If yes, then Recurring Deposit (RD) can be a great option for you. RD is a savings scheme in which you have to deposit a fixed amount every month and in return you get interest.
Benefits of RD
Safe investment: RD is a safe investment option, as the risk of your investment is low.
Regular income: You get a fixed income every month from RD, which can provide you with financial security.
Flexibility: You can make your plan according to the period and amount of investment in RD.
Low risk: There is no effect of market fluctuations in RD, so it is a low-risk investment option.
Types of RD
There are two main types of RD:-
Regular Recurring Deposit: In this, you have to deposit a predetermined amount every month.
Flexible Recurring Deposit: In this, you can increase or decrease the amount to be deposited every month.
RD interest rate
RD interest rates may vary in different banks and post offices. However, in general, RD interest rate ranges between 5.5% to 6.7%.
How is RD interest calculated
RD interest is calculated in compound form. Interest is calculated every quarter.
Where to apply for RD
You can apply for RD in any bank or post office. Different banks and post offices offer different interest rates, so you can choose the best option according to your needs.
Documents required to invest in RD
Aadhaar card
Identity proof (eg passport, driving license)
Residence proof (eg electricity bill, water bill)
Bank account details
How to use RD
You can use RD to increase your savings, plan for the future, or achieve a particular goal. You can determine the duration and deposit amount of RD according to your needs.
Invest Now
RD is a safe and profitable investment option. If you want to get a regular income, invest in RD.