What happens if rd installment is not paid?
Hi krishika,
If you miss paying an RD (Recurring Deposit) installment, the bank usually gives you a grace period of a few days. But if you still don’t pay, they charge a small penalty for each month the installment is delayed. If you skip multiple installments, the RD can even be closed by the bank before maturity, and you may not get the full benefits of interest. So it’s always better to set reminders or enable auto-debit from your account to avoid missing payments.