Meaning of Recurring deposits Recurring deposit account is generally opened for a purpose to be served at a future date. Generally it is opened to finance pre-planned future purposes like, wedding expenses of daughter, purchase of costly items like land, luxury car and refrigerator or air conditioner. Eligibility of Recurring Deposit account 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…
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