Post Office RD Scheme: Post Office RD Scheme is a great investment option, which provides people with a safe and reliable way to grow their savings. Under this scheme, investors deposit a fixed amount every month and in return they get returns at a fixed interest rate.
This scheme is especially useful for those who want to make small savings regularly and want to deposit a large amount in the future.
The main objective of this scheme run by the Postal Department in India is to motivate the general public to save. This scheme is not only safe, but investors also get attractive interest rates in it.
Benefits of RD Scheme
- Safe Investment: This scheme is completely safe as the amount invested in it is secured by the government.
- Attractive Interest Rate: Currently, this scheme offers an interest of 6.7%, which may be higher than the schemes of other banks.
- Flexibility: You can deposit as much amount as you want every month as per your convenience.
- Simple Process: The process of opening an account and depositing money is very simple and straightforward.
How to invest?
- Visit the nearest post office: Visit your nearest post office and apply to open an RD account.
- Submit documents: Submit the required documents like Aadhaar card and PAN card.
- Deposit the first installment: After opening the account, deposit your first installment and make sure you keep depositing the installments on time every month.
- Important points
If you forget to deposit any month’s installment then you will have to pay a penalty of 1 percent.
If you do not pay four consecutive installments then the account gets closed automatically.
You can withdraw 50% of your investment after a year.