If you want to invest some part of your income safely for your future and are thinking of getting a chance to save at a good level, then the Recurring Deposit Scheme launched by the Post Office should be a good option for you. Could.
If you save in this scheme of the Post Office Department, then you will get many offers and different types of facilities and at the same time the Post Office will also give you a good interest on this saving amount.
Let us tell you that to save under this scheme, one has to open an account in the post office department. After opening the Post Office RD Scheme account, you can deposit the installment of your savings amount in any form, monthly or yearly and keep the transactions smooth.
Post Office RD Scheme
Post Office Recurring Deposit Scheme is recognized at the government level, that is, there is no possibility of fraud with the money invested in it, but by investing in it, the entire money of the person will be absolutely safe and will also get a good return at the given time. .
Let us tell you that this scheme of the Post Office Department has been operated in all the states of the country, under which interested persons can go to their nearest post department and open a savings account under this scheme, which is absolutely free.
Post Office RD Scheme Rules
- In Post Office RD Scheme, savings account is opened only for 5 years.
- You can save in this savings account with a minimum monthly installment of ₹ 100.
- Only a maximum installment of ₹ 1000 can be deposited monthly in the micro savings account of RD Scheme.
- This savings account can also be closed after 3 years in case of emergency.
- If the account is closed untimely, no interest will be given on the savings amount.
Interest rate in post office RD scheme
The current interest rate of 6.70% per annum is being provided by the Post Office Department under the RD Scheme which is updated from time to time. For example, if an investor deposits ₹ 500 per month and deposits ₹ 30000 in 5 years, then he will be able to get a return of up to ₹ 35681 according to this fixed interest rate.
Features of Post Office RD Scheme
- Post Office RD Scheme is prevalent across the country for making micro savings.
- With this, the applicant is given the opportunity to budget at a very minimum savings amount.
- In this scheme of Post Office, the investor can also get good interest.
- This savings account is absolutely free and does not attract any government tax.
- Savings account of RD scheme can be opened in the name of any man or woman.
- Individuals can secure their future jobs with this micro savings.
Documents to open savings account
- Aadhar card
- PAN card
- income certificate
- Address proof
- caste certificate
- passport size photo
- Mobile number etc.
RD Scheme Savings Account Opening Process
The entire work process for opening a savings account in the Post Office ID Scheme is done by the Post Office Department through offline medium, for which no fee is charged from the person. For this, we explain the process of opening a savings account in the RD scheme step by step.
- First of all go to the nearest post office department.
- Get complete information about the scheme from here and ask for the account form.
- Complete information will have to be entered carefully in the received form.
- Attach the required documents with it and review your information.
- Submit the application form at the counter after which it will be verified.
- Now you will have to deposit the first budget amount and get the passbook.
- In this way this micro savings account will be opened.
