LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

Post Office Saving Schemes: Earn more interest than banks, it will cost you just Rs 10

This is a 5-year Post Office Recurring Deposit Account (RD), where a person can begin with a minimum amount of Rs 10 per month or any amount in multiples of Rs 5. There is no maximum limit.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Post Office Saving Schemes: Earn more interest than banks, it will cost you just Rs 10
This account can be opened by cash / Cheque. It has nomination facility while opening and also after opening of account, which can be transferred from one post office to another. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Tue, Sep 18, 2018
07:35 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Post Office Schemes: Check latest interest rate on Savings Account, 5-Year RD and Term Deposits Post Office Schemes: Check latest interest rate on Savings Account, 5-Year RD and Term Deposits
Bihar Postal Circle Recruitment 2019: 1,063 vacancies open, last date Sept 4 - Here's how to apply Bihar Postal Circle Recruitment 2019: 1,063 vacancies open, last date Sept 4 - Here's how to apply
Post Office Recurring Deposit (RD): From interest rates to late payment charges, here are all details Post Office Recurring Deposit (RD): From interest rates to late payment charges, here are all details
You can deposit money online in Post Office recurring deposit account; Here's how You can deposit money online in Post Office recurring deposit account; Here's how
5 Post Office saving schemes to invest in for better Income-Tax benefits 5 Post Office saving schemes to invest in for better Income-Tax benefits

Everybody wants to get maximum returns with minimum investment. However, in current era, when most people live their life on an average salary, they are not in a situation to make a solid plan for effective saving. However, you can earn handsomely with this plan. One Post office scheme can serve your purpose. Here are the details of this saving scheme. 
 
This is a 5-year Post Office Recurring Deposit Account (RD), where a person can begin with a minimum amount of Rs 10 per month or any amount in multiples of Rs 5. There is no maximum limit.
 
You can earn an interest of 6.9% per annum (quarterly compounded). This scheme can be continued for another 5 years on year to year basis. Notably, the bank saving schemes generally provide an interest rate between 3.5 per cent to 6 per cent(maximum).
 
This account can be opened by cash / Cheque. It has nomination facility while opening and also after opening of account, which can be transferred from one post office to another.
 
One can open any number of accounts in any post office even in the name of minor of 10 years. Minor after attaining majority has to apply for conversion of the account in his/her name. Two adults can open their joint account also. 
 
Notably, subsequent deposit can be made up to 15th day of next month if account is opened up to 15th of a calendar month, and up to last working day of next month if account is opened between 16th day and last working day of a calendar month.

Watch this Zee Business video

One withdrawal up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
India Post officesaving schemesBank interest rates
RELATED NEWS
Post Office Schemes: Check latest interest rate on Savings Account, 5-Year RD and Term Deposits Post Office Schemes: Check latest interest rate on Savings Account, 5-Year RD and Term Deposits
Bihar Postal Circle Recruitment 2019: 1,063 vacancies open, last date Sept 4 - Here's how to apply Bihar Postal Circle Recruitment 2019: 1,063 vacancies open, last date Sept 4 - Here's how to apply
Post Office Recurring Deposit (RD): From interest rates to late payment charges, here are all details Post Office Recurring Deposit (RD): From interest rates to late payment charges, here are all details
You can deposit money online in Post Office recurring deposit account; Here's how You can deposit money online in Post Office recurring deposit account; Here's how
5 Post Office saving schemes to invest in for better Income-Tax benefits 5 Post Office saving schemes to invest in for better Income-Tax benefits

LATEST NEWS

NEET 2021 exam: Check here the latest update on dates and all you need to know for registration before appearing in the test

7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report

Gold Price Outlook – Gold, Silver prices may see further fall next week; expert tells what to do to maximise gains

Airbag for front-seat passenger made mandatory from THIS date

PPF Calculator: You can double Public Provident Fund income and save income tax outgo - you will need this help

7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

EaseMyTrip IPO Review: Issue opens on Monday! 'SUBSCRIBE' say experts; check details like important dates, price band, lot size, many more

ITC Share Price: Experts give 'share to buy' tag; predicts up to 25% profit in three months

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved