What is fixed deposit and recurring deposit?


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What is fixed deposit and recurring deposit?
asked Jan 15, 2013 in Business Questions by Raj Kumar Moderator (946,000 points)
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Repayable on demand or after an agreed period as per bank’s choice.
answered Jan 15, 2013 by veshnavi Moderator (1,837,000 points)
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In fixed deposit you deposit a
certain some for a definite
period. You can opt either for
periodical(monthly/quarterly/half yearly or annually) returns or simply opt to get the amount with accumulated interest at the end of the prescribed period. In recurring deposit, you pay a fixed amount at regular intervals (say 100 PM for 12 months). You will get back the amount with accumulated interest at the end of the prescribed period.
answered Jan 16, 2013 by jeet sagar Moderator (1,034,200 points)

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