Cumulative Deposit Scheme

Tax Glossary Definition

Cumulative Deposit Scheme

A cumulative deposit scheme is a savings or investment plan in which the interest earned is compounded periodically and added to the principal, so that the total amount accumulates until maturity. Unlike regular deposits, the investor does not receive periodic interest payments; the entire amount is paid at the end of the term.

Example: A Post Office Recurring Deposit or Fixed Deposit in cumulative mode where the interest compounds quarterly or annually and is paid along with the principal at maturity.

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