Benefits of opening up a Recurring Deposit account at ABC Capital Bank

Benefits of opening up a Recurring Deposit account at ABC Capital Bank

One of the most popular and preferred investment schemes is the Recurring Deposit or RD. Here at ABC Capital Bank we offer a Recurring / Target Deposit account where either monthly salaried people or independent professionals can open up an account for short or long term investments or savings.

Here are benefits of opening up a Recurring Deposit account at ABC Capital Bank

  • Recurring Deposit Account  is the simplest and most convenient investment option available in the market. If you want to open an Recurring Deposit Account with ABC Capital bank and you already have a Savings Account with, you would need minimal documentation.
  • Unlike Fixed Deposit schemes, where one must invest a lump sum amount, Recurring Deposits do not require a huge amount of money at one go. You can opt for monthly payments, using the online banking or fund transfer feature.
  • According to an RD scheme, one must deposit a fixed amount of money every month over a period of time. This will instill the habit of regular savings in a person. The amount to be deposited and the tenure of the investment will be decided at the time of opening the Recurring Deposit account.
  • Another benefit of recurring deposits is that one can invest with a minimum amount of 50,000 Ugx. Therefore, it is highly beneficial to people, particularly the set who can partake with little amount from their monthly budget.
  • Unlike Mutual Funds and Stocks, in which one can lose money if the market value goes down, the amount invested in RDs is safe and secure, and will be returned along with the interest at the end of the tenure.
  • Recurring Deposit is the best and safe option to invest, especially, if you’re planning for short term investments.

 

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