Question

Difference been saving account and recurring account​

Answer 1

Answer:

In savings account the interest is calculated on daily basis whereas in FD and RD interest is calculated on the quarterly or yearly basis. Some banks offers the interest amount monthly which will get credited to a specific account but in this case the interest will be comparatively low

Explanation:

Answer 2

Answer:

Explanation:

savings account

A Savings Account is the basic account which is provided by all the banks in India. A savings account provides you the facility to deposit and withdraw the money as per your wish.

recurring account

Recurring Deposit Accounts or RDs are offered by banks where a fixed particular amount is deposited on monthly basis and he bank/financial institution pays interest on the money deposited. It is similar to FD except that in RD the money is deposited on a monthly basis and in FD the deposit is made at the time of account opening. The interest earned on the recurring deposits are taxable.