Investment can be made in Post Office Recurring Deposit Account (RD). Through this scheme, the post office is currently providing 5.8 percent interest. If any investor wants to invest in this scheme then he can do so. Apart from this, investment can be started from a minimum of Rs 100 per month to invest in this scheme.
RD Scheme: Many schemes are being run by the government for the benefit of the people. In these, different categories of people are being provided benefits from different sides. Meanwhile, many saving schemes are being made available to the people through the post office by the government.
Among these, RD is also a great option for saving. Many types of benefits are being provided in the RD of the post office. Also, the scheme can be done in the RD scheme for a long period. Let’s know about it…
Investment
can be made in Post Office Recurring Deposit Account (RD). Through this scheme, the post office is currently providing 5.8 percent interest. If any investor wants to invest in this scheme then he can do so. Apart from this, investment can be started from a minimum of Rs 100 per month to invest in this scheme. However, there is no limit on the maximum investment.
Account opening
Any number of accounts can be opened under this scheme. An adult, joint account (up to three adults), his guardian for a minor or a person of unsound mind and a minor above 10 years of age can open this account in his own name. This scheme can be taken advantage of by opening an account and investing every month.
Maturity
On the other hand, the maturity period of RD opened in the post office is five years. This RD has to be run for five years i.e. 60 months. However, if someone wants to close the RD first, then after three years the RD can be closed. Loan can also be availed on post office RD scheme.
