Post Office RD: The government revised the interest rates on Post Office Small Savings for the October-December 2023 quarter and increased the interest rates on Post Office Recurring Deposit by 20 basis points. The government has increased the interest rate on five-year RD to 6.7 percent per annum instead of 6.5 percent.
Post Office RD : The government revised the interest rates on Post Office Small Savings for the October-December 2023 quarter and increased the interest rates on Post Office Recurring Deposit by 20 basis points.
The government has increased the interest rate on five-year RD to 6.7 percent per annum instead of 6.5 percent. Will get interest. Now 6.7 percent interest will be available on 5 year Post Office RD from October 1, 2023 to December 31, 2023. But do you know that you may have to pay charges for premature withdrawal of money from RD.
Rules for withdrawing money from RD before maturity
According to the rules, Post Office RD account matures in 5 years. You can close the account even after three years from the date of opening. But if you close this account even a day before maturity, you will not get interest as per the current interest rate of RD i.e. 6.7%. On this, interest will be given on post office savings account which is only 4 percent.
Rules for extending RD account
If you want to continue your RD account even after five years, you will have to apply for it in the post office. The same interest will be given on this which was received at the time of opening the account.
You will get this much interest on investing Rs 5,000 on RD
In an RD of Rs 5,000 every month, you will invest Rs 60,000 in one year and a total of Rs 3,00,000 in five years. You will get Rs 56,830 as interest at the rate of 6.7 percent after 5 years. You will get Rs 3,56,830 on maturity.
If you invest Rs 3,000 in RD every month, you will invest Rs 36,000 in a year. Your total investment in 5 years will be Rs 1,80,000. According to the post office RD calculator, according to the new interest rates, you will get Rs 34,097 as interest. You will get a total of Rs 2,14,097 on maturity.
Interest rates are reviewed every three months
TDS is deducted on the interest received on RD. TDS of 10% is applicable on the interest rates received on RD. If the one month interest on RD is more than Rs 10,000 then TDS will be deducted.
Rules for extending RD account
If you want to continue your RD account even after five years, you will have to apply for it in the post office. The same interest will be given on this which was received at the time of opening the account.
You will get this much interest on investing Rs 5,000 on RD
In an RD of Rs 5,000 every month, you will invest Rs 60,000 in one year and a total of Rs 3,00,000 in five years. You will get Rs 56,830 as interest at the rate of 6.7 percent after 5 years. You will get Rs 3,56,830 on maturity. If you invest Rs 3,000 in RD every month, you will invest Rs 36,000 in a year.
Your total investment in 5 years will be Rs 1,80,000. According to the post office RD calculator, according to the new interest rates, you will get Rs 34,097 as interest. You will get a total of Rs 2,14,097 on maturity.
Interest rates are reviewed every three months
TDS is deducted on the interest received on RD. TDS of 10% is applicable on the interest rates received on RD. If the one month interest on RD is more than Rs 10,000 then TDS will be deducted.
