There are many types of schemes in the market for investment. People invest in it according to their budget. At the same time, for small investors who can start investing with less money, today we are going to tell a better option for an investment. Many people invest in FD, but you have to deposit a lump sum amount in it. At the same time, there is a better option for recovery deposit (RD) investment, in which you can start saving with a small amount. Such investors who want to create a fund by making regular savings, they must know about the benefits of RD.
Initiating in RD, investors get used to saving every month. In such a situation, you can save it every month and do a good savings in future.
You need a lump sum for FD, but this is not the case in RD. In this investment option, you can start only 500 rupees or even at least.
In this option, investors get the facility to deposit according to their convenience. If the income of the investor is increasing, then he can also increase his RD amount. You do not get this option in FD.
The post office or banks usually get the benefit of compounding interest on recurring deposits. In the easy language, along with the original amount deposited by the investors, they also get interest on interest.
Some banks get the facility to take loans on recurring deposits, so that investors can be given money without breaking RD if needed.
