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1) What's TDR ? TDR stands for  Term Deposit Receipt . TDR is a type of Fixed Deposit where you can choose to receive the interest either Monthly or Quarterly. This scheme is also known as  Interest Payout  option. This scheme is suitable for those who expect to receive regular income. 2) How does TDR works? Deposit a lump sum amount for specific tenure Specify whether you want to receive interest monthly or quarterly You will receive interest as per your chosen interest frequency till the end of the tenure At the end of the tenure, you will get your deposit amount back. 3) Features ? Safe investment option Guaranteed returns Regular monthly or quarterly income Senior Citizens get extra interest rate compared to other customers. 4) Income tax benefits ? Deposit amount (up to Rs. 1.5 Lakhs) under  5 years Tax Saving FD  will qualify for tax deduction under Section 80C of Income Tax Act No tax deduction benefits for deposit other than 5 years Tax Saving FD There i...

1)  What is RD ? RD stands for Recurring Deposit . RD is a savings scheme where you can deposit a fixed amount every month for the chosen tenure. In this scheme, the interest earned will be compounded on a quarterly basis. This scheme is suitable for those who wants to save small amount every month and then receive a big amount at the end of the tenure. 2)How does RD work ? Choose the monthly deposit amount Choose the tenure Deposit the fixed amount every month for the chosen tenure At the end of the tenure, you will get the maturity amount (deposit amount + interest earned) 3)Features ? Safe investment option Guaranteed returns Quarterly compounded interest Helps you to save small amount every month and creates the habit of regular savings Senior Citizens get extra interest rate compared to other customers RD can be used as a security to get Loan. 4)Income tax benefits ? No income tax benefits on the monthly deposit amount. There is a TDS (Tax Deducted at Source) from Bank i...