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Post Office RD is one of the most popular savings options offered by post offices as compared to regular fixed deposits and other long term schemes.
Post Office RD: Apart from providing postal delivery services, post offices also provide financial services to its customers through savings schemes and life insurance.
Post Office RD Scheme
Post Office RD is one of the most popular savings options offered by post offices as compared to regular fixed deposits and other long term schemes.
Post Office RD Interest Rate
The current post office RD interest rate is 6.70% per annum.
compound interest
Interest is compounded on a quarterly basis, thereby growing the deposited amount till the maturity date.
Post Office RD Duration
Unlike bank recurring deposits, post office RDs have a fixed tenure of five years.
Can you extend the term of R.D.?
If a person wishes to continue the RD account after 5 years, there is a provision under which the RD can be extended for another 5 years, making the total period 10 years.
Post Office RD: Minimum and Maximum Deposit
As per post office RD rules, the minimum deposit amount is Rs 10 per month, and there is no limit on the maximum deposit amount.
How to get more than Rs 21 lakh by investing Rs 30,000 per month?
If you invest Rs 30,000 every month, you will get Rs 21,40,074 on maturity in five years. At the rate of 6.7 percent, the interest will be Rs 3,40,974.
