At this time post office is a very good option to keep your money safe. Seeing the needs of its customers, the post office has now given the facility to deposit money online in RD account.
New Delhi: Post office is a very good option to protect your money at this time. Seeing the needs of its customers, the post office has now given the facility to deposit money online in RD account. The post office has started this facility to protect people from congestion amidst the pandemic spreading across the country. If you have also got RD opened, then you can deposit money online through the IPPB (India Post Payments Bank) app. Through this app you can transfer your monthly installment of RD.
Let us tell you how you can deposit money in this sitting at home-
>> You have to put money in your IPPB account first.
>> After that go to DOP Products and select RD option.
>> Fill the RD account number and DOP customer ID here.
>> Now you have to fill the installation period and amount of your RD.
>> You will get a notification after payment.
Post Office RD
Post Office Recurring Deposit is the best option for small savings. By investing through it, you can fulfill your dream easily. RD account is opened in post office for at least five years. While banks provide the facility of opening RD account for six months, one year, two years, three years etc.
How much interest do you get?
Talking about this scheme, customers get interest at the rate of 5.8 percent in it. Let me tell you that the minimum investment amount in RD scheme is only 100 rupees. Apart from this, you can invest in multiple of 100 in it. You can take interest on this scheme on quarterly basis. At the end of every quarter, a compound interest is given to your account.
Who can open an account?
>> Anyone can open as many RD accounts as his name.
>> There is also no restriction on the maximum number of accounts.
>> Two adult persons can also open a joint RD account together.
>> An already opened personal RD account can be converted into a joint account at any time.
Penalty is imposed for not paying installments on time
If you do not deposit the fixed amount in RD account within the stipulated time, you will have to pay a penalty. If you do not deposit four consecutive installments, then your account will be closed. However, even after the account is closed, it can be started again for the next two months.
Also Read: How simple is a simple life insurance plan, know what is the benefit of it?
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