Post Office Recurring Deposit Account is one the post office scheme which can be opened at minimum amount of Rs. 10 / month at the interest rate of 8.4% per annum (quarterly compounded). For ex. If you invested Rs. 20 / Month for 5 years, the amount will be Rs. 1493.06 after maturity.
Tag Archive: best schemes in India
Post Office Monthly Income Scheme (POMIS) is one the post office scheme which offers a guaranteed return on your investment. So the investor wants to generate monthly income can open this account and get assured return on the investment. This scheme is very useful for retired persons. So as they can invest a lump-sum amount and earn the interest on monthly basis.