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What is Recurring Deposit & How to Open a RD Online/Offline?

How Does a Recurring Deposit Work?

What are the Types of Recurring Deposit Accounts?

What are the Features of a Recurring Deposit Account?

What are the Benefits of Recurring Deposit?

What are the Eligibility Criteria for a Recurring Deposit?

The eligibility conditions for a Recurring Deposit (RD) in India may differ slightly from one bank to another.

However, the following are some standard requirements that most banks follow:

Criteria

Eligibility Details

Age

Individuals above 18 years can open an RD account. Some banks also allow minors to open an RD account with the help of a guardian.

Residential Status

Both Indian residents and Non-Resident Indians are eligible to open an RD account, although specific terms and conditions might apply for NRIs.

Customer KYC

You need to provide valid Know Your Customer (KYC) documents such as identity proof, address proof, and a recent passport-sized photograph.

What are the Documents Required to Open a Recurring Deposit?

How to Open a Recurring Deposit Account Online?

How to Open a Recurring Deposit Account Offline?

FAQs about Recurring Deposits (RD)