When it comes to investing, the people of the village still deposit their money in various post office projects. Post Office RD is still very popular among people. Let us understand how beneficial it is to invest money in RD.

The Post Office RD is a government-backed project. Your money remains perfectly safe here. Post Offices offer RD 5.8% annual interest, compounding quarterly. Also, if we do not pay any installments on time, we also have to pay fines.

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RD starting at 100

The monthly installment of any Indian national is only Rs. RD can be started by paying. If you open an account within the first 15 days of the month, the installment must be deposited in the first 15 days, but if you open the account, the installment will last after 15 days. Deposit should be made within 15 days.

The penalty is for not paying the installment on time

In any case, if you are unable to pay the RD installment on time, you will have to pay a fine. For every installment of Rs. 100, a fine of Rs. If you do not pay on time, your account will be closed. You can take out a loan on RD.

You can close the RD account at a premature level after three years. But in such a situation, the interest you get in a savings account will only accrue.

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