RD (Recurring Deposit) means to deposit the money in a regular interval like daily, weekly or monthly basis and after a fixed time and get the returns in Long Period Like: one Year, Two year, Three Year, Five Year, different tenure as given by related society.
Means the people deposits a sum of amount to the institutions and returned a matured amount with interest to the depositor.
FD (Fixed Deposit):
In FD (Fixed Deposit) the person deposit a sum of amount for a fixed time of period like: Three Years, Five Years or more. And after given period the FD become mature and amount will be returned with interest.
An institution can start RD FD business and manage all the transactions of deposits. To manage all these transactions, due installments of RD, maturity date of RD and FD all such kind of managerial tasks cannot manage manually.