Why Choose Post Office RD?
Post Office Recurring Deposit (RD) offers several benefits:
1. Flexible tenure: 5 years, extendable by another 5 years.
2. Low minimum deposit: ₹100, with no maximum limit (multiples of 10).
3. Partial withdrawal (half withdrawal) option.
4. Compounding interest benefits for up to 10 years.
Key Features:
- Account types: Single, Joint (up to 3 adults), Minor, and accounts for persons of unsound mind.
- Monthly deposit amount cannot be changed once set.
- Defaults: 4 allowed; subsequent defaults render the account discontinued.
Loan (Half Withdrawal) Facility:
- 50% of balance available as loan after 1 year and 12 monthly installments.
- Simple interest rate: 2% above RD account rate.
- Repayment options: lump sum or monthly installments.
Account Extension and Premature Closure:
- Extension: up to 5 additional years.
- Premature closure: allowed after 3 years, with simple interest.
Using the Calculator:
1. Enter RD account opening date and monthly deposit amount.
2. Click "Calculate" to view results for 5-year and 10-year RD investments.
Senior Citizen Benefits:
Currently, no special benefits are offered to senior citizens; rates and returns apply uniformly.
Rate of Interest:
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