Recurring deposit is among the favorite investment avenue for those who are looking to save money in a systematic manner. This could be monthly bi-monthly, quarterly or even half yearly.
Recurring deposits (RD) are deposits where you can invest a sum each month periodically. This helps to build a corpus at the end of maturity period. Recurring deposits help you to start your saving with a small amount you are left with at the end of the month.
The schemes are regular monthly deposit ones and so you don't have to fix a lump sum amount in them as you do in case of fixed deposits. Instead, you get a lump sum amount when the deposit matures.