As a banking employee, I can tell you: is recurring deposit good investment. As per my knowledge, RDs are among the safest types of investments because they don't carry risks. It enables you to deposit a certain amount of money over a predetermined length of time at regular intervals.
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For those who wish to save big for the future, this method of saving is regarded as a good investment choice. Read on to get the benefits of recurring deposits.
Is Recurring Deposit a Good Investment?
I have invested in a recurring deposit and according to me, yes it is a good investment. It comes with the following benefits:
It helped me develop disciplined saving habits since I made a monthly commitment to a fixed amount.
There was no penalty imposed when I missed the RD installment for a month.
I was able to receive a fixed interest rate on my savings due to it. Let me tell you that it usually tends to be higher than standard savings accounts.
It also gave me reliable returns. This is so because the interest rate is set for the duration of the deposit.
Moreover, I suggest you read over the terms and conditions of the recurring deposit plan before making an investment. I hope you found this answer helpful.
Secure Your Financial Future Now with Personal Loan via NB Instacash. Read more -Which Bank is Best for RD in India?
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Is Recurring Deposit Good?
Dhananjay87
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10 months
2024-06-28T11:50:23+00:00 2024-06-28T12:16:53+00:00Comment
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