SBI annuity scheme vs fixed deposit vs recurring deposit: Investment cheat sheet

The EMIs comprises a part of the principal amount as well as interest on the reducing principal amount, compounded at quarterly rests and discounted to the monthly value. So, the deposits made by the customers are returned to them in the form of a monthly installment, along with interest.

from Moneycontrol Economy News https://www.moneycontrol.com/news/economy/sbi-annuity-scheme-vs-fixed-deposit-vs-recurring-deposit-investment-cheat-sheet_14862901.html
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