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Recurring deposit (RD) is a popular savings option offered by banks and financial institutions, allowing individuals to regularly deposit a fixed amount of money over a predefined period. There are various types of RDs available, including regular RDs with fixed monthly deposits, flexible RDs allowing varying deposit amounts, and senior citizen RDs with special benefits for older individuals. RDs typically offer competitive interest rates, and the interest earned is compounded quarterly or annually. They provide a disciplined approach to saving and are suitable for individuals looking to achieve short to medium-term financial goals. RDs offer liquidity, tax benefits, and are relatively low-risk investment options, making them popular among conservative investors.