National savings scheme

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Recurring Deposit Account

  National Savings Recurring Deposit Account ​​ 5-Year Post Office Recurring Deposit Account (RD) Interest payable, Rates, Periodicity etc. Minimum Amount for opening of account and maximum balance that can be retained From 01.04.2020, interest rates are as follows:- 5.8​ % per annum (quarterly compounded) ​ Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit. Salient features including Tax Rebate Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of clearance of Cheque Nomination facility is available at the time of opening and also after opening of account Premature closure is allowed after three years from the date of opening of the account and interest at the rate applicable from time to time to the Post Office Savings Accou...
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