RECCURING DEPOSIT

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The Recurring deposits are deposits opened for a fixed period where a monthly fixed amount is remitted into the account. For example. If the recurring deposit is for 12 months and the amount is Rs.500.00, monthly a sum of Rs.500.00 is paid on the deposit date for 12 months.On maturity the deposit is paid with interest. THE AMOUNT SHOULD BE IN MULTIPLES OF 10 AND THE MINIMUM DEPOSIT AMOUNT SHOULD BE 100 AND DOESNOT EXCEED 5000.