A savings product for persons intending to save for future expenses. Saving plan for annual rentals, school fees, holiday trips, loan repayments, and other planned regular expenses. The product is designed for salaried and non-salaried persons.
Recurring deposit is a systematic monthly saving to a bank account in which the account holder track with set goals on returns at the end of the chosen savings period / fixed deposits.
Target market - salaried and non-salaried persons with regular obligations.