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A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest.
You can open a RD account by visiting any bank and filling up the form that is used for opening an RD and pay the first months money to the bank teller.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoYou need to walk into a branch of any bank and ask for opening a recurring deposit. The bank would have a form for the same. You need to fill up the form and then pay up the money you want to pay at the bank teller's counter. Once done, the bank officials would give you a small passbook for the recurring deposit with the days date and the amount you paid up. Every month you need to visit the bank and pay up the monthly installment of the recurring deposit.
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