Post Office / Bank Recurring Deposit (RD): The economic condition of the people has been affected due to the corona epidemic. Realizing this, the government has given permission to deposit money till July 31, while giving relief to the common people regarding RD or Recurring Deposit. Let’s know all the things related to this …
new Delhi. If you have opened Recurring Deposit (RD) account in the bank or post office, then this news is very important for you because the government (Government of India) has announced to relax the rules related to it. If put in simple words, people who have opened a posting office (Post Office / Bank Recurring Deposit (RD)) in the post office i.e. the post office in their neighborhood, now deposit the installments of March, April, May and June by 31 July. Can. No additional fee will be charged for this. Not only this, they will not have to pay the default fees also. Let me tell you that it is considered the most hit option for investing small savings. That is why today we are giving you the necessary information related to it.
>>A minimum of 100 rupees a month can also be invested in RD. Here you get a return according to the fixed interest on your deposited money. This is a small savings scheme, but in it you can make a big profit by investing your small savings every day.
>> Recurring deposit is one such scheme, which also encourages small savings. By the way, its maturity is 5 years, but you can extend it even further for 5-5 years by applying.
>> The good thing is that for depositing in it, it is not necessary that you have to go to the post office or bank. You can also deposit money online.
>> In this RD scheme you can invest minimum Rs 100 every month. You can deposit any amount in multiple of 10 more than this.
>> There is no limit on the maximum deposit amount. In the multiple of ten, any amount can be deposited in RD account. Anyone can open any number of RD accounts in his name. There is no restriction on the maximum number of accounts. Yes, be aware that the account can only be opened in person, not in the name of the family (HUF) or institution. Two adult persons can also open a joint RD account together.
Understand in simple terms – if you save 50 rupees daily, then you will be able to save 1500 rupees a month. At the same time, the interest on RD is met by 5.8 per cent quarterly compounding.
>> Amount at 5 years maturity: Rs 1.05 lakh. At the same time, at 10 years maturity, the amount is Rs 2.75 lakh and at 15 years maturity, the amount is Rs 4.3 lakh.
>> RD has facility of both single account and joint account. Children above 10 years of age can also open account guardians under their care. RD maturity is 5 years, but by applying before maturity, it can be extended for next 5–5 years.
>> You can deposit at least 100 rupees per month in RD account and maximum amount in multiples of 10.
>> There is also the facility of nomination at the time of opening an account. You can also deposit money online in RD.
You have to fix a period and an amount.
>> Suppose you decided that you will deposit 1000 rupees in your RD account every month for the next 10 years. Once this is decided, you will have to deposit only 1000 rupees every month for 10 years. You can never change the amount deposited in a normal RD account. Penalty will be imposed on doing this.
>> Flexi Recurring Deposit: In this you will have to fix a certain time, but you can increase or decrease the amount deposited in it.
>> Suppose you have decided to deposit money for 10 years, but if the economic situation is weak in the middle, then you gave a little less money and if the situation gets better, then you can increase the amount.
