Recurring deposit account is also known as RD account. This account is opened for those who wish to make regular deposits in the account in order to get benefit of higher rates. In this account, a fix amount is deposited every month and a sum of amount with interest is paid to the depositor at the time of its maturity. This account is quite useful for the people having small savings in a month. This account is opened for a time period starting from 6 months to 120 months. This account is opened in the name of an individual or even in joint names.
