Recurring Deposit is a special kind of Term Deposit offered by PARLOAN which help members with regular incomes to deposit a fixed amount in every month into their Recurring Deposit account and earn interest at the rate applicable.
- The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure
- Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate
- Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.
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