Recurring Deposit: -   It is an investment tool which allows people to make regular deposits and earn decent returns on the investment. In this Investors invest a specific amount in this scheme on monthly basis for a fixed rate of return.

Features of Recurring deposit (RD)-

• Minimum tenure 12 Months & Maximum 60 Months
• Frequency of deposit – Monthly
• Interest rate will vary
• Deposit Limit ( Minimum- Rs 250 , Maximum- No Limit)= multiply 50
• Renewal Facility
• Nominee Facility

If Deposit Amount is 1000/-