What to consider when opening up a Recurring Deposit Account

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What to consider when opening up a Recurring Deposit Account

A Recurring Deposit Account (RD account) is one of the best investment options for those looking to grow their money without substantial risk. Read more on the Benefits of a Recurring Deposit Account
 It requires the investment of a defined RD amount, at a defined tenure. Interest on the Recurring Deposit is credited to the account at the end of the period or on maturity. Opening up a Recurring Deposit is very easy here at ABC Capital Bank.

Here are some factors to consider when opening a Recurring/ Target Deposit Account with ABC Capital Bank:

  • Minimum amount: The Recurring Deposit account minimum opening balance and monthly installments is USD 50/ 50,000Ugx with no maximum amount . This makes it very easy to open an RD account because there are no bank charges for deposits. Anyone who has little funds can open an account and earn from it.
  • Interest: Competitive Interest is earned on balance in a Recurring Deposit account every month thus rewarding interest rates more savings and guaranteed returns
  • Withdrawals: You don’t have to worry about premature withdrawals because there interests on the them
  • Currency : The recurring deposit account can be opened up in both UGX and USD hence favoring also foreigners

Head to one of our ABC Capital bank branches today and make an investment by opening up a Recurring Deposit account with us

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