Here in India what we call ‘recurring deposit’ where you are forced to save a certain amount of money depending on how much you wish to save in a recurring desposit account. This money is available at the end of the year. A small amount of interest also gets accrued. It is not so much the opportunity to earn but to save specially for those who spend before they earn. This money could be reinvested and the quantum increased as years go on.
There are indeed other schemes too like fixed deposits but there you need a lump sum.
Here in India what we call ‘recurring deposit’ where you are forced to save a certain amount of money depending on how much you wish to save in a recurring desposit account. This money is available at the end of the year. A small amount of interest also gets accrued. It is not so much the opportunity to earn but to save specially for those who spend before they earn. This money could be reinvested and the quantum increased as years go on.
There are indeed other schemes too like fixed deposits but there you need a lump sum.