Recurring Deposit with ServiceAdda.in
The best way to create wealth is by setting aside a fixed amount every month for
investments and for savings. Investment in recurring deposits is one of the most popular
ways to invest and earn from a fixed amount of money, every month. In an RD scheme,
the investor deposits a fixed amount of money every month for a defined period of time
and at the end of his tenure, he gets back both the investment amount and the interest.
In the Recurring deposit scheme, the investor has to first choose the tenure of the
monthly deposit amount. After the plan starts, the investor must deposit the amount
every month over tenure of a minimum of six months to a maximum of 10 years. The
rate of interest for investment in RD ranges from 7% to 10% and senior citizens are
entitled to a higher rate of interest. Generally, RDs are started in Banks and in Post
offices and it is not tax efficient.
Benefits of Recurring deposits:
The reason why most of the investors choose RD as their preferred investment option is
that, the RD scheme allows them to save money on a periodic basis with no minimum
deposit value. The tenure of investment is also not fixed and can be chosen in days as
well. They can be used as collaterals to take loans and an investor can take up to 80-90%
loans on their RD amount.
There are a number of RD schemes available in the market and there are few criteria to
choose the best out of them. Advice and consultation from experts at Service Adda, we
will help investors with the best deposit scheme with high ROI.