If you are an investor whose risk appetite is low to medium and you want guaranteed returns, you can go for Recurring Deposits. India’s Best Free Online Recurring Deposit investment Advisory says you can choose to invest your money in Recurring Deposits as they are Government backed, risk free, guaranteed return investment avenues.
What is Recurring Deposits?
A Recurring Deposit is offered by banks so as to help people having regular income deposit a fixed amount monthly and earn applicable rate of interest. India’s Best Free On call Recurring Deposit investment Financial Advisory Portal Moneymindz brings forth the knowledge to you that the minimum period of RD is 6 months while the maximum is a decade. You can also avail loans against the collateral of Recurring deposit but be sure to check how much, etc before going for the same.
Features of Recurring Deposits
- Monthly deposits Rs 100 per month
You need to invest a minimum of Rs 100 and in multiples of Rs 10 per month.
- Nomination facility available
Nomination facility is available and it is recommended to make use of this facility.
- Minimum period of Deposit and Maximum period of Deposit
The minimum period of deposit is six months and the maximum period of deposit is ten years.
- Individuals can separate account and an account in minors name
An individual can open a Recurring Deposit account in his/her own name. Apart from that he/she can also open a Recurring Deposit account in the name of a minor child, provided he/she is the natural or legal guardian.
Merits of Recurring Deposits
- Plan short term goals
A short term financial goal lasts up to 3 years. Recurring Deposits are great places to park your funds for fulfilling short term goals.
- Flexible and easy to use
In some banks, you are allowed to withdraw the amount whenever you please. Recurring Deposits are easy to use and they come with disciplined investing and guaranteed returns.
- Rate of interest
Interest rates vary from bank to bank. But interest rates are always fixed. Till the completion of the tenure, you will have the same interest rate.
- Safe Investment Option
They are safe as they are Government backed schemes. They offer guaranteed returns too.
For more information visit www.moneymindz.com or give a missed call to 022-62116588