A recurring deposit (RD) is a type of savings account where you make regular, fixed deposits over a specific period. It's a disciplined approach to saving, often used for long-term financial goals like buying a house or planning for retirement.

• Regular Deposits: You make fixed deposits at regular intervals, such as monthly, quarterly, or half-yearly.
• Maturity Period: The RD has a fixed maturity period, after which you receive the accumulated amount along with the interest earned.
• Flexibility: Some banks may offer flexibility in terms of the deposit amount or the maturity period.

Benefits of Recurring Deposits:

• Discipline: It encourages disciplined saving habits.
• Interest Earnings: You earn interest on your accumulated deposits.
• Long-Term Goals: RDs are suitable for long-term financial goals like buying a house, planning for education, or retirement.