What is 5-year Post Office RD (Recurring Deposit) Account?
- Under this scheme, you can open an account by either cash or cheque.
- This scheme will offer you an interest rate of 6.7% per annum, on a quarterly compounded basis.
- This type of account too can be transferred from one Indian post office to another.
- Maximum two adults can hold a joint account.
- If you make an advance deposit of at least six instalments, you can expect a rebate.
- After one year, you can withdraw as much as fifty percent of the total balance of the account.
Check total wealth you can create in this scheme using Post office RD Caculator