A recurring deposit means making regular deposits. It is a service provided by many banks where people can make regular deposits and earn decent returns on their investments. “An RD account means a banking or postal service account in which a depositor puts a certain amount of money each month for a set length of time (commonly spanning from one year to five years).” This structure is for people who want to put down a set amount each month with the goal of receiving a payout after a few years.