Recurring Deposit

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RECURRING DEPOSITS

description

Recurring account is an account where the depositor deposits fixed amount of funds at regular intervals of time. Here is PowerPoint presentation that covers where to open a recurring account, its advantages and eligibility. Read this presentation to know more!

Transcript of Recurring Deposit

Page 1: Recurring Deposit

RECURRING DEPOSITS

Page 2: Recurring Deposit

*It is an account where the depositor deposits fixed amount of funds at regular intervals of time.

*The interval can be month, quarter, 6 months, or 1 year

*Interest rate is calculated on the amount deposited

*After a specified duration, the depositor receives a lump-sum amount

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Where to open a recurring deposit?

*A recurring deposit can be opened at a bank, or post office

*Formal documents such as PAN card, residential proof, identity proof, etc. are required to open the account

*RD account can be opened for a period of less than 6 months, to the maximum period of 10 years

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Advantages of Recurring Deposits

*There are several advantages of opening online recurring deposit; a few are listed below:

Fixed monthly investment option

Fixed duration of investment

Fixed interest rate

TDS not applicable

Flexibility of investment

http://www.yesbank.in/branch-banking/personal/recurring-deposits.html
http://www.yesbank.in/branch-banking/personal/recurring-deposits.html
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Eligibility*Resident individuals

*Hindu Undivided Families

*Private & Public Limited Companies

*Trust & Societies

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THANK YOU


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