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.
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