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Recurring Deposit vs Chit Fund: Which Investment is best for you?
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We all know that saving and investing a part of your income is good. But for most of us, finding the best investment option is a confusing exercise like the topic recurring deposit vs chit fund.
We have put together an all-you-need-to-know article to help you understand two of the most popular short-term investment instruments.
This article talks about recurring deposit vs chit fund and how you can decide which one is most suited to your money-saving plan .
RECURRING DEPOSITS
Recurring deposits are fixed monthly investments with a bank for a pre-defined tenure. The accumulated sum generates interest which is paid to the investor with the lump sum saving.
Recurring deposits are considered a transparent and risk-free investment instrument that suits people looking for small investment avenues. Recurring deposits are available with all the banks and you can open one with your savings bank account .
How Does a Recurring Deposit Work?
In recurring deposits, you are...