– Interest rate: 6.7% per annum – – Compounded quarterly for better returns – – One of the safest investment options!
– Monthly Deposit: ₹1,000 – Total Deposit: ₹60,000 – Interest Earned: ₹11,365.83 – Maturity Amount: ₹71,365.83
– No withdrawal before 3 years – After 3 years, savings account interest applies – After 5 years, full amount is paid without penalty – You can extend RD beyond 5 years
– Nominee can claim the RD amount – Or, legal heirs can continue RD till maturity – Claim process is simple at the post office