Even in today’s time, recurring deposits remain one of the most popular and simplest schemes available in India. Beginners, low-income groups, and risk-averse investors prefer RDs as they are simple to understand than market-linked products.
RDs can help you channel your daily savings into a good corpus on maturity. It generates an interest income and compounds it thus giving the customers an added income.
With the advent of online calculators, you will no longer have to undertake the hassle of computing your returns. The recurring deposit calculator online instrument is designed to help you understand your overall returns with the click of a button. Nowadays many online aggregators offer this service, you only need to input your investment details.
Both RD and FD are the simplest financial products available in the market. There are no complicated guidelines attached to these investment instruments and the account with a nominal investment. While one may want to invest a lumpsum in FD, recurring deposits are the best ways to plan for your short-term goals and get into the habit of saving money regularly. RD are ideal investments instrument you want to meet a short-term goal over an investment tenure of up to 5 years.
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