Is recurring deposit a good idea?

In recurring deposits, you have to invest in a deposit plan that will give you a fixed rate of interest. It is not prone to risk and is one of the safest forms of investment. In recurring deposits the investor has to deposit a fixed amount every month. The rate of interest is also fixed in a recurring deposit scheme and is known at the time of investment.

Recurring deposit comes with monthly installment and hence there is a chance of monthly savings. It is also for short term savings goals and does not help in long term wealth growth.
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