there is no such deduction in the case of an RD<\/strong>. The tax liability rests with the depositor on his overall annual income through all sources.\u00a0In case of minors who have a joint account with their parents, the interest accrued will be clubbed with the income of the parent whose total income is higher.<\/p>\nDoes Recurring Deposit suit all?<\/h2>\n
For people with fluctuating income patterns, an RD may not be the ideal product. As stated above in an RD, if you miss a payment, you have to pay a penalty. If you have an irregular income pattern, you may take a look at the bank sweep-out account, under which whenever you have surpluses above a prescribed level, the bank automatically books an FD of the surplus amount.<\/p>\n","protected":false},"excerpt":{"rendered":"
If you are looking for investing your money in debt instruments, it\u2019s the right time to do so. RBI (Reserve Bank of India) on March 9, 2012 has reduced CRR rates by 0.75%. This means banks would have more money to lend and so loan rates are expected to go down and so are fixed […]<\/p>\n","protected":false},"author":1,"featured_media":4845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[30,1589],"tags":[385,390,314,381,386,348,306,291,338,384,254,387,295,116,389,388,281,267,12,268,382],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",664,345,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD-300x155.png",300,155,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",664,345,false],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",664,345,false],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",664,345,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",664,345,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/03\/Recurring-Deposits-RD.png",120,62,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":15,"uagb_excerpt":"If you are looking for investing your money in debt instruments, it\u2019s the right time to do so. RBI (Reserve Bank of India) on March 9, 2012 has reduced CRR rates by 0.75%. This means banks would have more money to lend and so loan rates are expected to go down and so are fixed…","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/1551"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=1551"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/1551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/4845"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=1551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=1551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=1551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}