Day: April 6, 2019

Fixed Deposit vs Recurring Deposit: Know the features, difference, taxability and which is suitable for whom

Fixed Deposit vs Recurring Deposit: Know the features, difference, taxability and which is suitable for whom

Buzz
Fixed deposits and recurring deposit are among the most-preferred deposit schemes in India. Irrespective of age, most people in India still prefer putting their money in bank FDs and RDs. The secure nature and high rates of interest with flexible tenures are what adds to the popularity and attraction of these schemes. However, most times investors get confused between a fixed deposit and a recurring deposit for their investment objectives. With RD one needs to deposit a fixed amount every month and can earn interest on a monthly basis. The interest along with the amount invested is paid at maturity. The interest on recurring deposit remains the same throughout the term once the investor has made the investment. The tenure for recurring deposits ranges from 1 year to 10 years, depending ...