Post office RD account deposit full details and interest rate calculation kannada.

Post office RD account deposit full details and interest rate calculation kannada.
Post Office Recurring Deposit Tenure
A Recurring Deposit is an instrument which is used as a medium-term investment option. Most investors opt for it in order to meet foreseeable emergencies in the coming years. Currently, individuals who wish to open a Post Office RD need to ensure that their deposits are active for a minimum period of 5 years, i.e.Minimum Tenure of Post Office RD = 5 years
Subsequent deposit can be made up to 15th day of next month if account is opened up to 15th of a calendar month and up to last working day of next month if account is opened between 16th day and last working day of a calendar month.
If subsequent deposit is not made up to the prescribed day, a default fee is charged for each default, default fee @ 0.05 rs for every 5 rupee shall be charged. After 4 regular defaults, the account becomes discontinued and can be revived in two months but if the same is not revived within this period, no further deposit can be made.
*If in any RD account, there is monthly default amount , the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. This will be applicable for both CBS and non CBS Post offices.
There is rebate on advance deposit of at least 6 installments
Single account can be converted into Joint and Vice Versa
Minor after attaining majority has to apply for conversion of the account in his name

One withdrawal up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account
Full maturity value allowed on R.D. Accounts restricted to that of INR. 50/- denomination in case of death of depositor subject to fulfillment of certain conditions.
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