Recurring Deposit (RD)
Key Features Of Recurring Deposit
Regular Monthly Deposits
Contribute a fixed amount each month.
Flexible Tenure
Choose from 6 months to 10 years, depending on your financial goal.
Guaranteed Returns
Fixed interest rate determined at the time of opening.
Low Entry Barrier
Start with a small amount, making it accessible to all.
Loan Facility
Avail loans against your RD balance if needed.
Premature Withdrawal
Allowed with penalties, depending on the bank’s policy.
Types of Recurring Deposit
Eligibility & Required Documents
- Resident Individuals
- Hindu Undivided Families (HUFs)
- Minors (with guardian)
- Companies, Firms, and Associations (subject to bank rules)
Identity Proof : Aadhaar, PAN, Passport, or Driving License
Address Proof : Aadhaar, Utility Bill, Passport
Recent Passport-size Photograph
Bank Account Details / Mandate Form
How to Open a Recurring Deposit Account?
Choose Amount & Tenure
Decide your monthly deposit and period.
Fill Application Form
Apply online through netbanking/mobile app or offline at a bank branch.
Submit KYC Documents
Provide identity and address proof.
Set Standing Instructions
Ensure automatic debit of the monthly amount.
Start Depositing
RD begins from the first deposit; receive passbook/online account details.
Earn Interest & Maturity Amount
On completion, withdraw lump sum (principal + interest).
RD vs Other Savings Options
|
Investment Type |
Risk Level |
Return Potential |
Liquidity |
Ideal For |
|---|---|---|---|---|
|
Recurring Deposit |
Low |
Low–Moderate |
Medium |
Small, regular savers |
|
Fixed Deposit |
Low |
Low–Moderate |
Medium |
Lump sum investors |
|
Mutual Funds |
Medium |
Moderate–High |
High |
Growth-oriented investors |
|
Equities |
High |
High |
High |
Long-term wealth growth |
|
Public Provident Fund (PPF) |
Low |
Moderate (tax-free) |
Low (15-year lock-in) |
Retirement planning & tax saving |
|
Gold Investment (Digital/Physical) |
Medium |
Moderate |
Medium–High |
Wealth preservation & hedge against inflation |
|
Real Estate |
Medium–High |
High |
Low |
Long-term capital appreciation |
|
Bonds/Debentures |
Low–Medium |
Moderate |
Medium |
Stable income with lower risk |
|
National Savings Certificate (NSC) |
Low |
Moderate (tax benefit) |
Low (5-year lock-in) |
Tax saving & secure returns |
|
Savings Account |
Very Low |
Very Low |
Very High |
Daily liquidity & emergency funds |
Advantages of Recurring Deposit with OnClock
At OnClock, our Recurring Deposit (RD) plans are designed to give you the perfect balance of safety, flexibility, and growth. Here’s why thousands of smart savers trust us with their monthly investments:
1. Guaranteed & Secure Returns
Unlike market-linked investments, your returns are fixed and assured from the start. You know exactly how much you’ll get at maturity, which makes planning for goals like education, vacations, or emergencies easier and stress-free.
2. Flexible Deposit Plans
We understand that every saver has different financial needs. That’s why OnClock RDs allow you to choose your deposit amount and tenure, starting from as little as a few hundred rupees per month, and tenure options ranging from 6 months up to 10 years.
3. Seamless Digital Experience
Forget the hassle of paperwork! With OnClock, you can open, manage, and track your RD account entirely online. Set up automatic monthly transfers, monitor progress, and receive maturity details — all from your phone or laptop.
4. Loan Facility Against RD
Life is unpredictable, and we’ve got you covered. Instead of breaking your RD, you can avail a loan against your deposit balance, ensuring that your savings continue to grow while you handle urgent financial needs.
5. Affordable & Accessible for Everyone
Whether you’re a student, young professional, or a seasoned saver, OnClock makes it possible for anyone to start saving. With low minimum deposit requirements, building financial discipline is now simple and accessible to all.
6. Transparent & Hassle-Free
At OnClock, transparency is a promise. You get clear terms, no hidden charges, and easy-to-understand RD plans. Plus, our 24/7 customer support is always ready to assist you at every step of your savings journey.