No such maximum limit is specified, as of now.
Important Features, online Payment Rules, minimum and Maximum Deposit Limit, post Office 5 year recurring deposit account (pord) offers an interest rate.3 per annum.The current post office RD interest rate 2019.3 per year.Post Office Recurring Deposit (pord) Scheme is a systematic savings plan, where you can deposit your money for a definite time period and earn interest on that.RD Calculation Formula, here is the most known casino in las vegas formula for calculating recurring deposit given by Indian Banks' Association, which is a simplification of the formula for future value of annuity with monthly payments and quarterly poker stege på bordet compounding.Premature closure allowed after three years.
After completion of 5 years, one can extend Post office recurring deposit account for another 5 years on year to year basis.One withdrawal up to 50 of the balance allowed after one year.And the interest rate applicable will be fixed as above.The minimum amount by which the account can be opened.You can use the post office FD calculator to calculate maturity amount by providing the time period and fixed deposit amount.The deposit needs to be in the multiples.5.1) Recurring Deposit Accounts can be opened by individuals as single or as joint accounts.Disclaimer:- The content of this website does not constitute financial advice and is solely meant for information purpose.However, you need to add this interest income every year or at maturity to your income under income from other sources and pay income tax based on your income tax slab.One account can be opened in one post office.This recurring deposit scheme from India Post is an ideal investment for those who cannot invest lump sum money, but does earn handsome interest at the end of the maturity period.The scheme is meant for those investors who want to deposit a fixed amount regularly on monthly basis in order to get a tidy sum after a definite time on the maturity of the account.It can be revived in 2 months, but if the same is not revived within this period, no further deposit can be made.Post Office Fixed Deposit Online Payment Facility.How to Open FD in Post Office.Due to their implementation through the post office, they can be run at the places which are geographically difficult to access.
Post Office Fixed Deposit Features, any individual can open a Time Deposit Account.
In this article, I would provide complete details about 5 Years Post Office Recurring Deposit Scheme.