Fixed Deposit (FD):
In an FD, you invest a lump sum amount of money with a bank or financial institution for a fixed period, which can range from a few months to several years.
The interest rate for the entire FD period is fixed at the time of investment.
The interest earned is typically higher than that of a savings account.
You cannot withdraw the principal amount before the maturity date without incurring a penalty, although some banks offer partial withdrawal options.
FDs are suitable for individuals who have a lump sum of money to invest and do not need regular interest payments.
Recurring Deposit (RD):
In an RD, you make regular, periodic deposits (usually monthly) into the account over a predetermined period.
The interest rate is usually fixed at the time you open the account and is applied to each installment as it is deposited.
You receive the principal amount along with interest at the end of the maturity period.
RDs are suitable for those who want to save a fixed amount regularly and earn interest on it.
Follows on Facebook : [ Ссылка ]
Follows on Twitter : [ Ссылка ]
Follows on Instagram : [ Ссылка ]
