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Do any of the US banks offer a recurring deposit, similar to the ones offered by Indian banks (HDFC, ICICI, SBI, and others)?

Other than long-term investments, like 401k and IRA, is there a short-term investment (not stocks)? Where you can deposit a monthly amount and then after 3/5 years, expect a fixed return of say, 3% or more?

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You can definitely make recurring deposits to savings accounts or CD's, which is what I'm guessing you're asking about. However, currently the rates on those are extremely low. You'd be lucky to find a rate of 1%.

  • Which banks offer these or any particular investment groups? – Sam007 Apr 11 '15 at 23:37
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    @Sam007 CDs and savings accounts? Any bank. Automatic investments? Most probably, ask the tellers or check on the banks' websites. – littleadv Apr 12 '15 at 0:58

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