Key Points
With the interest rate on post office RDs being increased to 6.7% for the October-December quarter, it may be worth your time to check out the features of a recurring deposit at your nearest post office..
Post office RD versus bank RD: Safety of RDsThe minimum investment limit is Rs 100 per month for a five-year RD in the post office..
Post office RD premature withdrawal versus bank RD premature withdrawal You can prematurely close your RD in a post office only after three years from the opening of the account..
While the interest rates at post offices are slightly higher than that at most banks, look at factors like operational convenience and ease of dealing with the post office, says Dev Ashish, a SEBI Registered Investment Advisor (SEBI RIA), and Founder of StableInvestor.com...
One of the major limitations of opening post office term deposits online is that depositors must have an account with India Post, says Gaurav Aggarwal, Senior Director, Paisabazaar...
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