Social Sciences, asked by pavanaraddym, 1 month ago

how is recurring deposit account differ from term deposit account​

Answers

Answered by krishnaadhana20
2

Answer:

In Fixed Deposit, an amount is deposited for a fixed period of time. A fixed deposit provides interest on the deposited amount. Whereas, in Recurring Deposits,the customer deposits fixed amounts in small intervals for a long period. The main purpose of a RD is to develop the habit of saving on a regular basis.

Answered by nehanazar1995
0

Answer:

In Fixed Deposit, an amount is deposited for a fixed period of time. A fixed deposit provides interest on the deposited amount. Whereas, in Recurring Deposits,the customer deposits fixed amounts in small intervals for a long period. The main purpose of a RD is to develop the habit of saving on a regular basis.

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