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Open in 10 rupees in put up workplace, account shall be greater than Financial savings Account – with simply 10 rupees open Publish Workplace Recurring Deposit account – jj
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Open in 10 rupees in put up workplace, account shall be greater than Financial savings Account – with simply 10 rupees open Publish Workplace Recurring Deposit account

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Post office savings plans are very popular among common people, especially in rural India. Recording Deposit (RD) among the most popular post office savings schemes is the most popular. The reason for this is that investing in it is the easiest and compared to other savings schemes, there is a lot of interest on deposit here. In view of the growing popularity of RD, the post office has given the facility to make payment of monthly installments online to the RD customers. (Read also: Election Result 2019: Because of this, the Sensex will now touch 50 thousand!)

Facility available through India Post Payments Bank

The post office has given facility to deposit the online installment deposit through India Post Payments Bank. In order to avail this facility, customers will have to link to the RDP account with the IPPB in the post office. After this, the monthly installment of the RD can be paid from the online IPPB account or from the IPPB App.

Benefits of RD

>> Recking Deposit relies on the investor's savings and can invest a fixed amount each month in this.
>> Under the RD lock feature, the interest rate remains the same from beginning to end and the interest rate on the deposit gets locked in the beginning. That is, if the interest rate is low, the RD is benefited.

>> Saving management is easy with recurring deposits, and there is often relief from the problem of fix deposits.
>> Time Period is fixed at the time of opening an account in RD. On completion of the time period, you get full payment including interest.
>> The specialty of the RD is that it has the advantages of fixed deposits with regular investment. Interest is fixed and income is guaranteed, and banks are more likely to get an offer. In RD, money can be collected for a particular goal.
>> RD can be up to 10 years. A long-term investment plan can be made in this.

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More profit than banks

SBI, the country's largest bank, offers interest at 6.80 to 6.85 per cent on its RD. At the same time, at the post office, at present it is giving interest every year at 7.30 per cent. However, the post office will have 5 years of RD, while in the banks, you can opt for one year to 10 years.

Opening an account is easy

It is very easy to open a RD in the post office. You can open it in any post office. You can also open one or more accounts. This account can also be opened on the names of small children. If you are 10 years of age or older, you can operate it yourself. Two people can also open joint accounts.

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