Keeping in mind the different income groups in the country, the Post Office is running many great schemes. There is no risk of market risks when investing in these savings schemes. Apart from this, you also get many great benefits from your investment. In this series, today we are going to tell you about a great scheme of the post office, the interest rates of which have been increased recently. The name of this investment scheme is the Post Office Recurring Deposit Scheme. Recently, the interest rate available for investing in this scheme has been increased from 6.5 to 6.7 percent. The new interest rate available on investing in this scheme has come into effect from October 1, 2023. If you are also planning to invest in this scheme. Let us know about it in detail in this episode -
The Government of India works to revise the interest rates available in these small savings schemes every quarter. In this series, it has increased the interest rates of the Recurring Deposit Scheme by 20 basis points.
The minimum age for investing in this scheme has been fixed at 18 years. Any Indian citizen above this age can invest in the Recurring Deposit Scheme of the Post Office.
You can start investing in the Post Office Recurring Deposit Scheme with even Rs 100. However, investment in this scheme can be made only for ten years.
You can close this scheme after three years of opening the account. The most special thing about the Post Office Recurring Deposit Scheme is that you also get the loan facility after one year of opening the account.
(PC: iStock)
