Post Office RD Account Investment : Post Office Recurring Deposit Account is a monthly deposit made at the Post Office ! This is a post office savings scheme which is suitable for middle class families to get monthly salary.
Monthly payers can get an attractive maturity amount by paying a small part of their salary in this RD scheme. All people can easily deposit in post offices as compared to banks. Since post offices are located in all parts of India, common people can also participate in savings schemes.
Post Office RD Account: 7% interest will be available on opening RD account in the post office, know how
Post offices have a variety of savings schemes similar to those in banks. This means opening Post Office Savings Accounts in Post Offices, Recurring Deposit, Fixed Deposit and Public Provident Fund and various other savings schemes.
Ordinary people are also investing in post office savings schemes with confidence because the post offices are under the control of the central government. You can invest a minimum of 10 rupees per month in the small savings scheme, Post Office RD!
Post Office RD Interest Rate Calculator – RD Interest Rates
Interest rates on Post Office schemes change from time to time. The interest rate of RD has been fixed at 7.2% per annum as on 01.06.2021. The interest amount will be paid every quarter. This ensures that an amount is multiplied during the maturity period.
Interest Rates for Post Office RD
| Financial year | April – June | July – September | October – Cheating | January – March |
|---|---|---|---|---|
| 2020 – 2021 | 5.8% | |||
| 2019 – 2020 | 7.30% | 7.20% | ||
| 2018 – 2019 | 6.90% | 6.90% | 7.30% | 7.30% |
| 2017 – 2018 | 7.20% | 7.10% | 7.10% | 6.90% |
| 2016 – 2017 | 7.40% | 7.40% | 7.30% | 7.30% |
Continuous deposits provide an opportunity to save for the future needs of individuals. Unlike deposits in banks, there is a minimum amount. In this way all the poor simple, middle class families of the country are getting benefits.
- You can deposit in RD with a minimum of Rs.10 per month!
- There is no such thing as a maximum amount
Key Features – Post Office Recurring Deposit Account
- You can open RD account with cash or check.
- It also has the facility to nominate a nominee. Appointment can be done even after opening Post Office RD Account.
- When you move to another location, you can transfer the account to the nearest post office.
- You can open any number of accounts in any post office.
- Two persons (adults) can open a joint account simultaneously.
- Single account can also be converted into joint account.
- Open post office accounts can also be opened in the name of minors. And minors above the age of 10 years can open and manage the account on their own.
Late RD Deposit – Penalty (Post Office Recurring Deposit Interest Rate)
If you fail to pay in one month, you will have to pay a fine the next time you build! Penalty will be 0.05 for every 5 rupees i.e. 5 paise.
Similarly, if the payment is not made for 4 consecutive months, then the RD Account will be closed. If the account is not renewed within 2 months, the account is not likely to continue.
Post Office RD Rebate – Waiver
Advance deposit amount can be paid for at least 6 months in this Post Office RD Yojana.
- If you pay for 6 months to 11 months, you can get a discount of Re 1 for every Rs 10!
- Deposits of 12 months and above will be deducted at the rate of Rs.4 for every Rs.10 paid in advance.
- You can get a discount of Re 1 for every 10 deposits made after 12 deposits!
- Note that this advance deposit must be made within a specified month.
Deposit Amount : Post Office RD Account
Continuous deposits provide an opportunity to save for the future needs of individuals. Unlike deposits in banks, there is a minimum amount. In this way all the poor simple, middle class families of the country are getting benefits.
- You can deposit in RD with a minimum of Rs 10 per month!
- There is no such thing as a maximum amount
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