Post Office Small Savings or Recurring Deposit Account gives better interest rate. A minimum of Rs 100 is required to invest in this, while no maximum investment limit has been given in it. You can invest as much money as you want in this post office recurring deposit account.
Post office investment schemes are considered profitable for the people. It is considered the safest to invest in. So if you are planning to invest your money in a safe way, then here is the best option for you. Money can be invested in the Post Office Savings Scheme, or more specifically the Post Office Recurring Deposit Account Scheme. There are many such schemes of the post office, in which people can make a good fund by investing. One such post office small savings scheme.
Post Office Small Savings or Recurring Deposit Account gives better interest rate. A minimum of Rs 100 is required to invest in this, while no maximum investment limit has been given in it. You can invest as much money as you want in this post office recurring deposit account. You can open a post office recurring deposit account for a fixed tenure of five years or invest in it for a longer period.
Interest Rate The
Post Office Recurring Deposit Account offers an attractive interest rate of 5.8 percent, this interest rate was introduced by the government and is deemed to be effective from April 1, 2020. The compound interest in this scheme is calculated every quarter, which helps the investors to earn more.
Will be available in 10 years. Will give Rs. But for this you have to deposit money regularly on monthly basis. On the other hand, if for any reason you miss to deposit money in a month, then you have to pay a penalty of one percent. If you miss four consecutive months, the account will be closed automatically. However you can still resume it within 2 months from the date of default. The Post Office Recurring Deposit Account Scheme allows applicants to withdraw up to 50 per cent of their deposits after one year of account opening.
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