I'm looking to join a monthly recurring deposit plan
Period = 2 years
Amount = 8-10k monthly
Most preferred if I can pay the amount monthly basis via my cc.
Help me to choose one, does the Indian post recurring deposit amount can be paid online via cc?
Thanks 😀
You can't pay recurring deposit (RD) installments using CC directly. You can however try transferring CC amount to bank account & then use the amount to pay RD installment.
What is the "monthly recurring deposit plan" you have choosen? What is the interest rate we get with this?
my preference would be to put that 8-10k per month as FD every month as that would yield better returns than RD as these days most banks give their highest returns for 15-30months period so check your respective bank's interest rates or if you want to invest in Post office then not much info and as per their interest rates they have mentioned only 5 yrs RD as 6.2% whereas as 2year TD itself is 6.9%
arundass007378 wrote:my preference would be to put that 8-10k per month as FD every month as that would yield better returns than RD as these days most banks give their highest returns for 15-30months period so check your respective bank's interest rates or if you want to invest in Post office then not much info and as per their interest rates they have mentioned only 5 yrs RD as 6.2% whereas as 2year TD itself is 6.9%
Thank for you reply
But, will there be any issues if I create too much FDs with smaller amounts.
As you said I will be creating 10k fd every month
Subhodayam wrote:What is the "monthly recurring deposit plan" you have choosen? What is the interest rate we get with this?
I don't know bro
Just trying to get some suggestions
Currently I'm creating small fds in paytm bank. Still I found I'm not able to save well
itsmejerry wrote:no issues in creating multiple FDs as I have created atleast one per month for 2-3yrs in ICICI and had some 40+Thank for you reply
But, will there be any issues if I create too much FDs with smaller amounts.
As you said I will be creating 10k fd every month
