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Recurring Deposit is a surprising kind of Term Deposit provides by banks in India which service people with fixed incomes to deposit a fixed amount each month into their Recurring Deposit account and get interest at the rate proper to Fixed Deposits. It is parallel to creating FDs of a certain amount in monthly instalments, for sample ₹ 1000 every month. This deposit matures on an accurate date in the coming along with all the deposits ended every month. Therefore, Recurring Deposit schemes allow customers with a chance to build up their savings over normal monthly deposits of fixed sum over a fixed era of time. Minimum Period of RD is 6 months and maximum is 10 years.