How to Make Money in Recurring Deposit

Yes, it is sure, you can make money in recurring deposit. Recurring deposit is saving money in a account and you deposit every month in it and lock to withdraw money from it from specific period. It may be 1 year, 2 years, 3 years and 5 years. Moreover you can open unlimited RD deposit account in different bank account.

Now, we come to the topic about, how can you make money in recurring deposit. Simple, you make money with compound interest. You get interest on collected interest amount.

 Following are simple step, you can make money in Recurring Deposit ( here my meaning is passive income, you will not do any active work and you will earn)

1st Step : Set Goals  

Without definite purpose, you can not make money life time from your recurring deposit. You must set the Goals which will you achieve through your recurring deposit accounts.

Remember Important Point : You must not withdraw or close before achieving the Goal

I am giving the Example of Your Goal

1st Goal : Make a Residential Home for Getting Rent Money Life Time 

Yes, it is definite Goal. In India for this, you need RS. 8,00,000 and you can make a small home of 2 beds room, one kitchen and one bathroom and you can get the rent money life time Rs. 3000 + value of your property will increase by spending the time.

Now, Estimate How can You Achieve this Goal with your recurring deposit if the interest Rate is 7%.

If you will open RD account with Rs. 20,000 per month deposit @ 7% interest, you will get = Rs. 803260
at the end of 3rd year and In these money, Rs. 83260 has earned by your deposited money. Now, you can ready to achieve your goal.

2nd Goal : Make the Goal of Life Time Pension

For example, these day, survival pension of retired person is Rs. 30000 to 40,000 and if you will be retire after 15 years, it means, you need Rs. 60,00,000 for same standard of living. So, you need to use RD for 15 years for achieving same goal. After this, you can fixed it in Govt. monthly income scheme.

2nd Step : Trust that Recurring Deposit will Make Money for you

In above example, you have seen that within 3 years, your RD account has created Rs. 83260 new money for you. It means, money jobs for you. You just control on your expenses and achieve more and more monthly RD saving goal. Trust that recurring deposit will make more money than your active job will surely make money, otherwise, you will break it and consume it for  non-productive expenses like buying of car and entertainment expenses.

3rd Step : Focus on Recurring Deposit

If you will focus on recurring deposit, you can deposit more what you have set goal of deposit in RD. Because when you will get any new earning from your job or business, you consume it by buying new luxury items. Now, you will start to focus on recurring deposit and it may be 10 to 40% of your new earning and it will make more and more money for you as you will increase its amount.

4th Step : Deposit in Recurring Deposit by Creating Your Hard Time

Yes, it was the time, when I was unemployed. Yes, it was the time, when I was no customer. Yes, it was the time, when there is no income from my profession or business. Yes, it was the time when no ebook or online course was sold. That was my hard time. Like me, there may be also your hard time when you were unemployed or you were not business or profession income. But, after job or earning from business, you forget your hard time, so, you have started to waste your earned money by consuming it more and more. But now, you have to start your recurring deposit by creating same hard time for you. If you can live hard time, you can now also leave in hard time. Every hard time brings new opportunities.

You will stop to eat outside, it is creation of hard time. It will save your cost and you can get money for your RD.

5th Step :  Stop Recurring Deposit Saving and Hedge it 

It is fact, recurring deposit will not give the power of you to make money all time. It can help you to generate required capital for your business. Hedging and investing in different project is your business which will help you to make money. So, try to change habit when you will achieve the goal of your RD and start to invest it where you will get money all time like fruits from tree.




COMMENTS

Comments on this Website
.
Share above Content to Your Friends



Name

access account accountant Accounting accounting definitions accounting ebook Accounting education accounting procedure accounting process outsourcing Accounting Software advance advertising africa Amalgamation amendments announcements Annuity assets audit auditing Australia B.Com. balance sheet bank Bank reconciliation banking basic accounting BBA benefits best bill black money blog bloggers book keeping bookkeeping Branch Accounting - full tutorial budget Budget variance business businessman CA calculator canada capital capital budgeting career cash cash book cash flow statement Chiense children china class coaching coins college commerce commerce students company computer computer accounting conference Contact vinod kumar corporate accounting cost cost accounting cost center cost centre CPA credit credit card cs currency data Debit and credit debit cards debt debtor degree depletion depreciation documents dollar domain Downloads Dubai e-accounting earning education Education Loans email employee EPF ERP euromoney examination excel excise duty expenses facebook factor of loan fans feature fifo FII fiji finacle finance Financial financial accounting fire insurance flickr flow forensic forex formula france fraud free fun function fund GAAP GDP gdr germany gold goodwill goodwill accounting google google apps google apps google base google buzz google calendar Google docs google finance google fusion tables google talk govt. GST guide health Hindi Hindi Language history holding company How to treat FBT in Tally 9 HRA ICAI ICAWI ICICI Bank IFRS income income statement Income Tax India indian railway Indonesia inflation inflation accounting infographics information inspiration insurance insurance accounting interest international Internet Introduction of Tally 9 inventory investment invoice IT Japan Job costing journal entries Kalculate keyboard kindle kuwait laptop law LBT learning lease lecture ledger leducation Leverage Analysis liabilities lifo linkedin loan logical point loss loss of profit M.Com. m.phil malaysia management accounting manual accounting manufacturing account market marketing mastercard material MBA MCA media migration mobile money ms word ms. excel multi currency in tally 9 Multicurrency Accounting mutual fund national security new and sacrifice ratio new york times new zealand news NGO nonprofit-accounting North Georgia Mountains NPV NSE odbc office oman online application online accounting otcei pakistan parents pay pal pdf pie chart pie chart of income pnb podcast ppf presentation price privacy policy prize money prof. vinod kumar profit profit and loss account project management provision purchase puzzles quickbooks Quote quotes quotes of svtuition rating agency ratio analysis RBI readers real estate rectification of errors remote control reports reserves responsibility accounting retirement revenue Revenue reserves review risk rupees salary sale saudi arabia saving sbi scholarship school SEBI security service tax share share trading Shares shri lanka singapore sms social accounting society solution South Africa stock stock exchange structure student students study subsidiary company svtuition swiss bank tally tally 9 Tally 7.2 Tally 9 Tally.ERP 9 tanzania tax Tax Accounting TDS teacher teaching technology test testimonial testimonials thailand tips trading trading on equity transaction trend trial balance tuition twitter UAE UGC - NET Commerce UK United Arab Emirates university usa valuation VAT Video Voucher and vouching wikipedia working capital youtube
false
ltr
item
Accounting Education: How to Make Money in Recurring Deposit
How to Make Money in Recurring Deposit
https://3.bp.blogspot.com/-_OW8rm37qOM/WR0l8TuX1kI/AAAAAAAAVSY/aIqbfUGouNg2_L8pXzy3Qiuofu6S_ps_wCLcB/s640/ads%2Bone%2Bcrore.PNG
https://3.bp.blogspot.com/-_OW8rm37qOM/WR0l8TuX1kI/AAAAAAAAVSY/aIqbfUGouNg2_L8pXzy3Qiuofu6S_ps_wCLcB/s72-c/ads%2Bone%2Bcrore.PNG
Accounting Education
http://www.svtuition.org/2017/07/how-to-make-money-in-recurring-deposit.html
http://www.svtuition.org/
http://www.svtuition.org/
http://www.svtuition.org/2017/07/how-to-make-money-in-recurring-deposit.html
true
2410664366776677676
UTF-8
Not found any lecture VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES Lectures View All RECOMMENDED FOR YOU Category ARCHIVE SEARCH ALL Lectures Not found any lecture match with your request, please help to write it and send it to our email at vinod@svtuition.org for making this website free accounting and finance encyclopedia. Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock