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Difference Between Fixed Deposit and Recurring Deposit

Difference Between Fixed Deposit and Recurring Deposit

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Difference Between Fixed Deposit and Recurring Deposit

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  1. Difference between Fixed Deposits & Recurring Deposits

  2. Purpose                    Earn definite rate of interest 01 Eligibility criteria  All Indians and members of Hindu Undivided Family 02 FIXED DEPOSITS Duration 7 days to 10 years 03 Renewals and withdrawals One can renew the deposit for an added term Penalty levied if withdrawn before maturity

  3. Purpose                  Develop habit of saving fixed sum every month 01 Eligibility criteria  All Indians and members of Hindu Undivided Family RECURRING DEPOSITS 02 Duration 6 months to 10 years 03 Renewals and withdrawals One can renew the deposit for an added term Penalty levied if withdrawn before maturity

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