Post Office Recurring Deposit Account (RD Account) is also included in the small savings schemes of the post office.
Post Office Recurring Deposit Account (RD Account) is also included in the small savings schemes of the post office. Let us know about this scheme in detail.
If you are thinking of investing in the coming days, then Post Office Savings Schemes (Saving Schemes) can do in. You definitely get good returns in these schemes. Also, the money invested in it is also completely safe. if bank default (Bank Default) If it happens, then you get back only the amount of five lakh rupees. but the post office (Post Office) I am not like that. Apart from this, investment in post office savings schemes can be started with a very small amount. Post Office Recurring Deposit Account in Small Savings Schemes of Post Office (RD Account) also includes. Let us know about this scheme in detail.
Rate of interest
At present, the interest rate of 5.8 percent per annum is present in the Post Office RD scheme. This interest rate is applicable from 1st April 2020. The interest rate in this scheme is compounded on a quarterly basis.
investment amount
At least Rs 100 per month can be invested in Post Office Recurring Deposit Account. Apart from this, one can invest in any amount in multiples of Rs 10. There is no maximum limit for investment in this.
Who can open account?
One adult or up to three adults can open a joint account in the Post Office Recurring Deposit Scheme. Apart from this, the guardian account can be opened on behalf of the minor or the guardian on behalf of the person of weak mind under the scheme. With this, a minor above the age of 10 years can also open an account in his own name. Any number of accounts can be opened in this scheme.
maturity
In the post office RD scheme, the account matures after five years i.e. 60 monthly deposits from the date of opening. In this small savings scheme, the account can be extended for a further period of five years by applying to the concerned post office. The interest rate during the extended period will be the same at which the account was opened. The account can be closed at any time during the extended period. For the completed years, the RD interest rate will be applicable. And for a period of less than one year, the interest rate of the Post Office Savings Account will be suitable. The RD account can be retained for a period of five years from the date of maturity without any deposit.
: Language Inputs
