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What does RD mean?
Recurring Deposit (RD) is a special kind of term deposit offered by banks in India. Under this scheme, the customer deposits a fixed amount every month into their Recurring Deposit account and the bank pays the interest at the pre-determined rates. The interest rate is usually similar to that in Fixed Deposits (FD). At the end of the term, the customer get the maturity value (total sum deposited + Interest).
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Frequently Asked Questions (FAQ)What is the full form of RD in Banking (India)?
The full form of RD is Recurring DepositWhat are the full forms of RD in Business?