Recurring Deposit is a special kind of Term Deposit offered by The Human Development Co-Oprative Multi Purpose Society Ltd which help members with regular incomes to deposit a fixed amount in every month into their Recurring Deposit account and earn interest at the rate applicable.
Recurring Deposit Features & Benefits:-
- The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure.
- Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
- Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.
| SNo. | Plan Type | Minimum Instalment | ROI(%) | Maturity Amount(Rs) |
|---|
| 1 | 12 Months | 500 | 7 | 6229 |
| 2 | 36 Months | 500 | 9 | 20676 |
| 3 | 60 Months | 500 | 11 | 39856 |