How is saving account different from Recurring account

1.	How is saving account different from Recurring account
Answer» \tFeaturesSavings AccountFixed DepositsRecurring DepositRate of InterestThe rate of interest is not fixed. It varies with the market.=Rate of interest is fixed. Generally it is rate varies from 6.96% to 8%Rate is fixed. It varies from 5.25% to 7.90% per yearDeposit AmountNo limit on the deposit amountThe money you deposit is fixed and you get interest on that particular amountA particular amount is deposited monthly for a particular period of timeTenureNo tenure.The tenor period is always fixedThe tenor period is fixedWithdrawalNo withdrawal limit.Withdrawal on maturityWithdrawal on maturityTax BenefitYou can not avail any tax benefit for savings account.Tax exemption is available for FDs under the section 80 of income taxIncome tax will not be deducted for interest earned up to INR 10,000Loan against the AccountNot availableAvailableNot available\t

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