How to become millionaire / Crorepathi by investing in a bank recurring deposits

Overview – How to become millionaire / Crorepathi by investing in a bank recurring deposits

Is it easy to become millionaire / Crorepathi without taking risk in investment? No investment in stock markets or in mutual funds, but can we attain this goal by investing in bank recurring deposits? Yes it is possible. Once you start investing on regular monthly basis for longer term in bank recurring deposits, your money grows faster. You would have heard about compound interest.

If you invest Rs 100 at 8% interest, for one year, your money would be Rs 108. In Second year, you earn interest of 8% on Rs 108 and not on Rs 100. This is called compound interest.

Your investment amount + interest would get re-invested each year (or Quarter) for longer term thereby benefitting through Compounding.

What are bank recurring deposits?

An investor can invest a fixed amount per month in bank recurring deposits for a specific period. The investment amount can be Rs 100 and with no upper limit. Currently Indian banks deposit rates are ranging between 8% to 9% on recurring deposits. Choose a bank recurring deposit which earns highest interest rates.

How to become millionaire / Crorepathi by investing in bank recurring deposits?

  1. Save Rs 1,600 per month: Are you aware that, if you save Rs 1,600 per month and invest in bank recurring deposit for 8.5% interest rate for 20 years, your money would grow more than Rs 10 lacs.
  2. Multiply above savings to 10 times i.e. Save Rs 16,000 per month and invest for 20 years at 8.5% interest rate, you would earn Rs 1 Crore? No risk, no second thoughts, just invest in bank recurring deposits and forget.
  3. When you want to become Crorepathi? See how much you need to save and invest in bank recurring deposit earning 8.5%.

    1. 10 years – You need to save Rs 53,500 to become Crorepathi
    2. 15 years – You need to save Rs 28,000 to become Crorepathi
    3. 20 years – You need to save Rs 16,000 to become Crorepathi
    4. 25 years – You need to save Rs.9,800 to become Crorepathi
    5. 30 years – You need to save Rs.6,100 to become Crorepathi

Conclusion: This is one of the best ways to become millionaire/Crorepathi. Start investing early in bank recurring deposits, as low as Rs 6,100 for 30 years @ 8.5% interest rate to become Crorepathi. Choosing a recurring deposit which offers highest interest rates would help you to reach your goal faster. Please refer my article on top bank deposit rates for maximising the returns. This is not a option for people who want to get rich quickly.

Readers, are you investing in bank recurring deposits? What is your experience?

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Suresh KP


  1. Dear Suresh

    I have one 2 bhk flat worth Rs. 80 lacs & i want to sell it & want to get settle in my hometown. I need your suggestion of how to invest this amount so that i can get atleast 50thousand per month as a fixed monthly income for my monthly expenses. I am thinking of FD as one option but how many FD do i have to get done to save the tax also. Please suggest other option also if you have. i done have much knowledge about Shares,Equity or mutual funds. 

    1. Ashish, My suggestions is to invest in Bank FD, Post office TD and other options. I got several queries about such investment options this week. I would provide an article early next week. Basd on that you can take decision

      1. Dear Suresh

        Thank you so much for your answer. I will definately & desperately wait for your article next week. I hope & would like to request you that if you can cover up all the queries that came to you so far. There are few queries of mine listed below :-

        1. I have four members in the family can i split the FD in four parts of 20 lacs each on every family memebers name to save the tax.

        2. Is it safe to do the FD in one bank only (approx 80 lacs).

        3. Best options to save the taxes.


        Ashish Gautam

        1. Dear Suresh

          I hope you have wriiten the article as promised by you. Please if you can give me the link for the same so that i can go through it.

          I really appriciate you for giving your time & solve the queries of the ppl like us.


          Ashish Gautam


  2. Hello Sir,

    I wish to invest monthly 2000 INR in RD for 20 years. Can you please let me know which bank provides monthly deposit facility?

  3. Dear Suresh.

    I'm working in gulf and have an NRE account.

    My age 29 and married. planing to work for another 5 years only.

    I want to save 50 lakhs as early as possible with a monthly investment of around 90K. without any risk.

    im planning to open an RD account of 87K for 4 years at 9% intereset. that will give a sum of 50 lakhs on maturity.

    since it is an NRE account no tax deduction is applicable. please correct if im wrong.

    I dont have any idea about MF and Equity so i dont prefer it as of now. 

    Please suggest me is these is the right way im going towards my goal.

    or is there any other more efficient and safe way to reach my goal and ultimatly become financialy independent.

    Thanks & regards,



    1. Hitesh, 1) About tax component, yes, if you invest in NRE account, the returns which you get are not taxed 2) If you want to invest in mutual funds, invest in variety of funds and choose 5 to 7 mutual funds so that you diversify your portfolio. 3) If you do not want to invest in MF/Equity, you have limited options like FD/RD or real estate or if your parents/spouse is in India, you can invest in post office saving schemes on their names

  4. Dear Suresh Sir, from past 5months im working in one pvt ltd company n i am getting 9kper month and i open rd account in sbi bank with 2years tenure and 2k/month.Is it better for 2 years or otherwise should increase the tenure.

    1. Anvesh, If you are young investor, you can take some risk and invest in stocks and mutual funds. RD for 2 years, you would get less interest. Invest in diversified funds or large cap funds to gain more. However even mutual funds investmnts should be done for long term.

  5. Hi Suresh,

    Thanks for providing this excellent article…

    I have a query. Generally banks are offering RD with the maximum duration of 10 years… is any bank providing recurring deposit for the duration of 15 or 20 years. If yes, can you kindly provide the bank names. I believe investments for 15 or 20 years will provide better returns because we will get the full benifit of cumulative interests.




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