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National Savings Recurring Deposit Scheme

Introductory:

National Savings Recurring Deposit Scheme helps the small investors to form a capital to meet the future needs.

  • An account can be opened by an adult in his own name or by two adults jointly.
  • Guardian may open an account on behalf of a minor or a person of unsound mind.
  • An account with minimum Rs. 10/- and any amounts in multiples of Rs. 5/- can be opened.
  • There is no maximum limit.
  • Rate of interest is notified by the government from time to time on quarterly basis and Current Rate of Interest Payable and maturity value.
  • Advance deposits can be made at the option of the depositor for 6 months or 12 months and earn rebate.
  • Withdrawal to the extent 50% of the amount of existing balance is permissible after one year of the opening of account.
  • Maturity value allowed on RD accounts restricted to that of ` 50/- denomination in case of death of depositor subject to fulfillment of certain conditions.
  • An account can be continued with deposits or without deposits after maturity for another five years. Account can be closed prematurely after 3 years with simple interest at the rate of Post Office Saving Account.

Click for National Savings Recurring Deposit Scheme Rule.

Click for National Savings Recurring Deposit Scheme Forms.

 
 
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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
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