Fixed Deposit (FD)
Deposit a lump sum for a fixed term at a fixed interest rate with partner banks and approved NBFCs.
Investments and Insurance
Save a fixed amount every month and receive it back with interest at maturity, through partner banks.
- Investments and Insurance
- Usually the same day or within a few working days*
About Recurring Deposit (RD)
A recurring deposit lets you save a fixed amount every month for a chosen period. The interest rate is fixed when you open the RD, and you receive your savings with interest at maturity.
We help you choose the amount and tenure, compare options from our partner banks, and open the RD with an automatic monthly debit so you never miss an instalment.
Bank deposits are covered by deposit insurance up to the limit set by law. Rates are set by the bank.
Who Needs This Service
- Salaried people building a monthly saving habit
- Families saving for a festival, trip or purchase
- Students and young earners starting to save
- Anyone who wants a fixed, risk-free monthly saving
Key Benefits
Save monthly
Small fixed amounts add up to a lump sum.
Fixed rate
The rate is fixed for the whole RD term.
Auto-debit
Instalments are debited automatically from your account.
Known maturity
You know the maturity amount when you open the RD.
Eligibility and Applicability
- Individuals, joint holders and minors through a guardian
- A savings account with the bank, in most cases
- PAN and KYC as required by the bank
Missed instalments may attract a penalty, and early closure rules differ by bank.
Documents Commonly Required
KYC
- PAN card
- Aadhaar or other address proof
- Recent photograph
Bank
- Savings account details for auto-debit
Document requirements can vary with the lender, product and your profile. We confirm the exact list before you visit. Never share OTPs or passwords with anyone.
Step-by-Step Process
Monthly amount
Choose how much you can save every month.
Tenure
Choose the number of months or years.
Open the RD
We help with the form and KYC at the partner bank.
Auto-debit
Instalments are debited every month.
Maturity
You receive your savings with interest at the end.
Estimated Timeline and Fees
Estimated timeline
Usually the same day or within a few working days
Depends on the bank's account and KYC process.
Our service fee
Any fee for our service is told to you in writing before we begin.
Lender / third-party charges
Interest is taxable as per your slab, and TDS may apply as per current rules.
* Interest rates are decided by the bank and can change for new deposits.
Common Mistakes to Avoid
- Choosing an instalment too large to keep up every month
- Missing instalments, which may attract a penalty
- Not keeping enough balance for the auto-debit
- Forgetting that RD interest is taxable
Frequently Asked Questions
What is the difference between an RD and an FD?
In an FD you invest a lump sum once. In an RD you save a fixed amount every month.
What if I miss an instalment?
The bank may charge a small penalty. Repeated misses can lead to the RD being closed, as per the bank's rules.
Can I close my RD early?
Usually yes, with a lower interest rate, as per the bank's rules.
Related Services
You May Also Need
SIP — Systematic Investment Plan
Invest a fixed amount every month in mutual funds through a SIP, to build wealth with discipline for your goals.
Bank Account Opening
Help opening savings, current and zero-balance bank accounts with partner banks, including KYC and business documents.
Talk to Our Team
Have a Question About Recurring Deposit?
Call, WhatsApp or visit our office. We will explain what applies to you, the documents needed and all charges before you decide.
- Callback during office hours
- Written quote before any work begins
- No obligation to proceed
Speak to an expert
Tell us what you need. We will explain the documents, process and fees before you decide.
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