RD Benefits in Post Office

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:

This rephrased version maintains the original content while improving readability, structure, and formatting for easier comprehension.