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National Savings Recurring Deposit Account Scheme
INTRODUCTION:
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Minimum ₹100/- per month and any amount in the multiples of ₹10/-. No Maximum Limit.
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An account can be opened by an adult in his own name or upto three adults jointly.
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Guardian may open an account on behalf of a minor or a person of unsound mind.
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Advance deposits can be made at the option of the depositor for 6 months or 12 months and earn rebate.
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Account matures in 5 years.
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Withdrawal to the extent 50% of the amount of existing balance is permissible after one year of the opening of account.
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Maturity value allowed on RD accounts restricted to that of ₹100/- denomination in case of death of depositor subject to fulfillment of certain conditions.
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An account can be continued with deposits or without deposits after maturity for another five years.
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Account can be closed prematurely after 3 years with simple interest at the rate of POSA.
Click for Scheme Rule(
1981 and 2019 )
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