0
Still curious? Ask our experts.
Chat with our AI personalities
Devin
Lao
TaigaAdd your answer:
Earn +20 pts
What are recurring deposit accounts?
The Recurring deposit account is an account in the bank (or a Post office in some countries) where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.
How much does Tera online cost?
14.99 a month if you buy recurring membership
What is the payment on 435000.00 at 6 percent interest for 15 years?
The payment will be $3,670.78 per month.
How much is 64 dollars for one year each month?
It is 5.33 (recurring) dollars.
What is meant by recurring deposit account?
A Recurring Deposit is a special type of bank account wherein the customer will deposit a small amount of money regularly every month. Banks will offer higher interest rates than the usual savings or current accounts because the customer will not withdraw the money until the deposit matures.
