Rs 20,000 SIP vs Rs 20,000 RD: Which monthly investment can generate higher returns in 5 years?

Many investors invest a fixed amount every month from their earnings to build wealth over time. There are many investment schemes available in the market that allow such investors to invest monthly.
Two popular investment options where they can invest monthly are mutual funds and recurring deposit (RDs). While in an RD, offered by a bank or a post office, investors can invest a fixed amount every month to get the principal and return back on maturity. In mutual funds, they can invest monthly through the systematic investment plan (SIP) method. There is no maturity period in SIP and investors can redeem the amount when they want.