Recurring deposits are term deposits more or less like fixed deposits in their  very nature. They are made for specified periods of time like  a year or more. the interest rates of theme are  the same that are applicable to fixed deposits. You just need to add fixed amounts (Multiples of Rs. 50) of money to it on a monthly basis of periods of 12, 24, 36 or 60 months. The difference is that you won't have to wait till a maturity period in case you wish to withdraw the dposit. You get the interest untill the date of withdrawal as well.

Recurring Deposits are helpful and advanatageous in many ways. The important factor is that you good interest rates for the amount deposited. Also, whenever your are in need of money, you can always withdraw the deposit with assured interest calculated untill the date of withdrawal. It empowers the cutomers with an opportunity to build up thier savings through regular monthly deposits of fixed sum over a fixed periods of time.