What is the difference between recurring and fixed deposit account? ?
 

Asked by shiphalijain | 5th Oct, 2017, 04:17: PM

Expert Answer:

 

Difference between recurring and fixed deposit account

Recurring account

Fixed deposit account

Deposited a specified sum of money every month for a specified period of time

Deposited a lump-sum amount for a specified period of time

Rate of interest is higher than savings but not fixed deposit account

Higher rate of interest is offered

It is also known as cumulative cumulative time deposits

It is also known as long term or time deposits

Answered by Tharageswari S | 6th Oct, 2017, 08:51: AM