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Write short notes on on the recurring deposit account

Posted by Mr Ansari 4 years, 2 months ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 4 years, 2 months ago

Recurring Deposit Account: The aim of recurring deposit is to encourage regular savings by the people. A depositor can deposit a fixed amount, say Rs. 100 every month for a fixed period. The amount together with interest is repaid on maturity. The interest rate on this account is higher than that on saving deposits.

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