Recurring Deposits: Key Features and How They Work

Think of a Recurring Deposit (RD) as a simple savings plan.

You agree to put a specific amount of money into it every month for a while.

The bank pays you interest on this money, and it's guaranteed.

You can typically choose how long you want to save, from a few months to several years.

Interest is added regularly, so your money grows faster.

It's a safe way to save because your returns aren't affected by the stock market, and you get a lump sum at the end.