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State one difference between Fixed Deposit Account and Recurring Deposit Account.

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State one difference between Fixed Deposit Account and Recurring Deposit Account.

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Difference between Fixed Deposit Account & Recurring Deposit Account :

Basis Fixed Deposit Account Recurring Deposit Account
Purpose To enable investors to mobilize idle savings and earn with a higher rate of interest than regular savings bank accounts  To inculcate a regular habit of savings among the public. 
Tenure Fixed amount is to be deposited for long tenure To inculcate a regular habit of savings among the public.

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