Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.

Deposit Scheme is a monetary deposit scheme introduced by Syndicate Bank, India. Money can be deposited into an account on daily basis. T he amount may be as small as Rupees five. It can be called a recurring deposit scheme, as the money is deposited almost daily.

A savings account is a deposit account held at a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return.

Amount to be Deposited: It is the principal amount an FD holder invests in a fixed deposit.