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ICSE Class 9 Answered

6. What are the advantages of investing in a recurring deposit compared to other investment options? 7. Have you faced any challenges or drawbacks while managing your recurring deposit account? 8. How do you plan to utilize the maturity amount of your recurring deposit? 9. Do you think recurring deposits are a suitable investment option for long-term financial goals? 10. What advice would you give to someone who is considering investing in a recuring deposit for the first time?
Asked by 2016159 | 03 Jun, 2024, 20:51: PM
answered-by-expert Expert Answer

Advantages of RD

  • Small investment requirement
  • Regular investment, not all at once
  • Low risk
  • Tax benefits
  • Flexible tenure
  • Guaranteed returns
  • Attractive interest rates

Advice:
Recurring deposits will help you inculcate a regular savings habit while earning a decent return on the investments without being exposed to high risks.

Answered by Arun | 05 Jun, 2024, 12:30: PM

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