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Best Recurring Deposit Interest Rates - Up to 8.50% at Shriram

Recurring Deposit: Open RD Online & Get upto 8.50% Interest Rate in just 5 Mins. RD scheme offers flexible tenure options starting from 12 months to 60

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Best Recurring Deposit Interest Rates - Up to 8.50% at Shriram

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  1. RECURRING DEPOSITS Interest up to 8.50%* P.A. 

  2. Recurring Deposit • It is an account in which the depositor makes regular deposits of a fixed amount of money. • The interval can be a month, quarter, 6 months, or 1 year • Interest rate is calculated on the amount deposited • The depositor receives a lump-sum payment after a specified period of time.

  3. Where to open a recurring deposit? • A recurring deposit can be open at NBFC or bank, or post office • Formal documents such as PAN card, residential proof, identity proof, etc. are required to open the account • RD account can be opened for less than 6 months, to the maximum period of 60 years.

  4. Types of Recurring Deposit Account – Overview • Regular Recurring Deposit Account • The most common RD scheme is which you have to deposit an amount for a particular tenure which in turn lets you earn interest on the principal amount. • RD Account for Minors • Type of RD account which can be opened in the name of minors under • Senior Citizens Recurring Deposit Account • Provides special privilege to senior citizens with an extra interest rate of 0.50% over regular rates • Tax Saving Recurring Deposit Account • Investing under this scheme helps an investor to claim tax deduction under section 80C of the Income Tax Act, 1961 • NRE/NRE Recurring Deposit Account • NRIs can invest in recurring deposits through a non-resident ordinary (NRO) recurring deposit or a non-resident external (NRE) recurring deposit.

  5. Advantages of Recurring Deposits • Option for a fixed monthly investment • Fixed duration of investment • Fixed rate of interest • TDS not applicable • Flexibility of investment

  6. THANK YOU +91 224095 9595 www.stfc.in

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