RD

Definition	:	Recurring Deposit
Category	:	Business » Banking
Country/Region	:	India
Popularity	:

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).