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Recurring Deposit

What is a Recurring Deposit?
A Recurring Deposit (RD) is a financial instrument offered by banks and financial institutions that allows individuals to deposit a fixed amount every month for a predetermined tenure and earn interest on it. It is a popular savings option for individuals with regular income who want to build a corpus over time without taking high risks. At the end of the term, the depositor receives a lump sum amount that includes both the principal and accumulated interest.

Features of a Recurring Deposit :
Fixed Monthly Installments: A specific amount is deposited every month, making it a disciplined saving option.

  • Flexible Tenure: Tenure usually ranges from 6 months to 10 years, depending on the institution.
  • Attractive Interest Rates: Interest is compounded quarterly and typically higher than a regular savings account.
  • Low Initial Investment: You can start an RD with as little as ₹100 per month.
  • Premature Withdrawal: Allowed, but may attract a penalty or reduced interest.
  • Loan Against RD: Some financial institutions offer loans up to 90% of the deposit amount.
  • Safe Investment Option: Minimal risk compared to market-linked instruments.
  • Nomination Facility: You can nominate someone to receive the amount in case of any unforeseen circumstances.

 

Eligibility Criteria for Recurring Deposit :

Anyone who meets the following basic criteria can open an RD account:

  • Individuals: Residents of India above 18 years of age.
  • Minors: Through a guardian or under supervision.
  • Salaried Professionals: Ideal for those with a stable monthly income.
  • Self-employed Individuals: With steady income streams.
  • Senior Citizens: Often eligible for higher interest rates.
  • Joint Account Holders: RDs can be held jointly with another individual.

 

How VRP Finance Company Will Help You?
At VRP Finance Company, we understand the value of disciplined saving. Here’s how we support you with your Recurring Deposit needs:

✅ Customizable RD Plans: Choose from a range of tenures and deposit amounts to suit your financial goals.

✅ Attractive Interest Rates: Competitive rates to ensure your money grows steadily.

✅ Easy Account Setup: Hassle-free account opening process, both online and offline.

✅ Flexible Payment Options: Multiple channels to deposit your monthly installment — via auto-debit, UPI, or cash.

✅ Dedicated Customer Support: Our experts guide you at every step, from choosing the right RD plan to maturity.

✅ Safe and Secure: Your money is in trusted hands, with transparent terms and regulatory compliance.

✅ Loan Facility: Need funds before maturity? Get easy loans against your RD at favorable rates.

Start building your financial future today with a Recurring Deposit at VRP Finance Company — the smart way to save consistently and grow your wealth securely.