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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.
What else can I help you with?
Can you withdraw money anytime from your reccuring account?
No. Recurring Deposits have a maturity date and you can withdraw the money only after the deposit matures. If you want to withdraw the money before maturity date, the bank will charge you a penalty for doing so.
What does deposit look like?
You have to define deposition. In the legal world, a deposition is a statement, made under oath, but outside of a courtroom.
Is it a safety deposit box or safe deposit box?
safe deposit box
What are the steps in making bank deposit?
Fill out deposit slip and proceed to teller to deposit.
How do you deposit money in an account?
you can deposit at the bank
What are the disadvatages of a reccuring deposit account?
The only disadvantage I can think of, is the fact that the money put into a recurring deposit is not much liquid. You need to terminate the deposit in order to get that cash. This way you may lose some interest rate or have some penalty charges charged by the bank.
What is another Word For reccuring theme?
A motif
Can you withdraw money anytime from your reccuring account?
No. Recurring Deposits have a maturity date and you can withdraw the money only after the deposit matures. If you want to withdraw the money before maturity date, the bank will charge you a penalty for doing so.
Define coral reef?
A ridge of rock in the sea formed by the growth and deposit of coral.
What is two thirds of four?
2.6 reccuring
What rhymes with reccuring?
during blurring stirring referring
Who many 6 are there in 57?
9 with 3 reccuring
What is 1.3 reccuring as a percentage?
133 and 1/3%
What is the Difference between term deposit and reccuring deposit?
Recurring Deposit: 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. Term Deposit: A Term Deposit or a Fixed Deposit (FD) Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
What does over and over again mean?
reccuring, happening again and again
What is 8 over 7 as a decimal?
0.875
What percentage would you get if you missed 1 questions out of 12?
91.66666 reccuring
