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new Delhi2 days ago
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- The post office is paying 5.8% interest on RD
- You can invest minimum Rs 100 every month in RD scheme.
If your recurring deposit (RD) account is in the post office, then you will not have to go to the post office to deposit money in it. You can deposit money online at the Post Office RD through the India Post Payments Bank (IPPB) app. Your monthly installment can be transferred online to your RD account through this app.
How can I deposit with the app?
What is RD?
Recurring deposits or RD can help you save big. You can use it as a piggy bank. Meaning that you keep putting a fixed amount in it every month when you come for salary, and when it is matured, you will have a big amount in your hands. India Post is getting 5.8% interest in RD.
Investment can start from Rs 100
In this RD scheme, you can invest a minimum of Rs 100 per month. You can deposit any amount in multiple of 10 more than this. There is no limit on the maximum deposit amount.
India Post Payments Bank started in 2018
India Post Payments Bank was launched on 1 September 2018. IPPB is providing services through 1.55 lakh post offices and 3 lakh postal employees spread across the country. It has 1.35 lakh post offices located in rural areas. IPPB is currently offering its services in 13 languages.