INSUBCONTINENT EXCLUSIVE:
Post Office Recurring Deposit (RD) account can be opened by cash as well as cheque.India Post has a network of more than 1.55 lakh post
offices across the country and offers a variety of banking and remittance services, other than mailing services
Besides, the Department of Posts (India Post) also offers a number of saving schemes ranging from recurring deposit (RD) account to fixed
deposit (FD) account, as mentioned on its official website- indiapost.gov.in
Interest rates on post office saving schemes move in line with the government's interest rates on small savings schemes
deposit (RD) accountPost Office Recurring Deposit (RD) account can be opened by cash as well as cheque
In case of cheque, the date of deposit shall be the date of presentation of cheque, said India Post
Minimum amount for opening of post office recurring deposit account (RD) is Rs
10 per month or any amount in multiples of Rs
Post office RD account offers an interest rate of 7.3 per cent per annum
The interest rate on post office RD account is compounded annually
On maturity, a recurring deposit of Rs
10 per month fetches a return of Rs
725.05 on maturity, as mentioned on India Post's official website- indiapost.gov.in
The post office RD account can be continued for another five years on a year-to-year basis.Post Office Time Deposit (TD) or Fixed Deposit
(FD) accountPost office time deposit (TD) or Fixed Deposit (FD) account can be opened by cash or cheque
In case of cheque, the date of realization of cheque in government account should be date of opening of account, said India Post
Interest is payable annually but is calculated quarterly
This account offers interest rates across four maturities: one year, two years, three years, and five years
Post office fixed deposit for one year, two years, three years, and five years offer 6.9 per cent, 7 per cent, 7.2 per cent, and 7.8 per
The minimum amount that one requires to open a fixed deposit with the post office is Rs
