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Question
List down any two features of a recurring deposit account.
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Solution
Recurring deposit account:
1. Account holder can decide the amount to be deposited every month.
2. RD is a means of compulsory savings. Banks also make it easy by auto deducting the set amount every month.
1. Account holder can decide the amount to be deposited every month.
2. RD is a means of compulsory savings. Banks also make it easy by auto deducting the set amount every month.
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