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Post Office Recurring Deposit (PO-RD): Overview

The post office recurring deposit (PO-RD) account is a systematic way of saving money. The scheme is meant for those investors who want to deposit a fixed amount regularly on a monthly basis and get a tidy sum on maturity after the stipulated 5 years. The current interest rate is 8.40% pa.

The recurring deposit account can be opened at any post office. The investor makes sixty equal monthly deposits. The minimum monthly deposit has to be Rs. 10, higher deposits increasing in multiples of Rs. 5.
The investor can close the account prematurely after 3 years. At closure, the investor is entitled to the interest rate applicable to post office savings accounts.

PO-RD: Basics

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PO-RD: Opinion

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