Question

explain the difference between recurring deposit account n fixed deposit account in point wise​

Answer 1

Answer:

The primary reason for the difference is that in FD you invest a lump sum amount and so the entire money earns interest for the specified period. But in a recurring deposit the first installment earns interest for 12 months period, the second for 11 months, third for 10 months and so on.

Answer 2

Answer:

• Whereas in FD the money deposited will be under the terms and condition of the Bank.
• Whereas in FD the money deposited will be under the terms and condition of the Bank.But when it comes to RD it is different from bothsavings accounts and FDs, there a particular amount needs to be deposited monthly, and this amount is decided while opening the account.