What benefits does one get on maturity of the post office recurring deposit account (RDA)?Read to know the benefits on maturity of the post office recurring deposit account (RDA).
10 Dec 2008
If regular and timely deposits have been made into the account during its
maturity period or extended maturity period, the depositor gets back the entire
accumulated corpus i.e. principal plus interest.
Case 2: if the account has discontinued or if there have been defaults in the monthly deposit in the account that have not been rectified during its maturity period or maturity period as extended, the depositor can get the amount inclusive of the interest in the same proportion to the amount specified in the repayment schedule. Even though the account may have been discontinued or defaulted, the depositor can get the accumulated corpus only after the expiry of the term i.e. 5 years.