Recurring Deposit: Earn up to 8.25% on RDs for 5 years

financialexpress.com:

Long-term Recurring Deposits (RDs) offer several benefits for people looking to save and grow their money over an extended period. They offer a disciplined and predictable way to save and grow your money over an extended period. RD is particularly beneficial for individuals, for example, senior citizens, who want to achieve specific financial goals or prefer low-risk investments with guaranteed returns.

Long-term RDs are ideal for achieving various financial goals, such as funding a child’s education, planning for a wedding, or building an emergency fund. The disciplined approach of regular deposits helps individuals reach these goals systematically.

RDs encourage regular and disciplined savings. By committing to a fixed amount each month for a predetermined period, individuals develop a habit of saving, which can be especially beneficial for achieving long-term financial goals.

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Long-term RDs typically offer higher interest rates compared to short-term RDs or regular savings accounts. This means that your savings can grow at a faster rate, helping you accumulate a more substantial corpus over time.

Unlike other investment options that may be subject to market fluctuations, RDs offer predictable and guaranteed returns. You know exactly how much interest you will earn on your deposits, providing financial stability and certainty.

RDs are considered safe investments because they are offered by banks and are backed by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a limit of Rs 5 lakh per depositor per bank. This makes RDs a secure way to save money over the long term.

Some banks provide the option to take a loan against the