State Bank Of India Vs Post Office RD Interest Rate Recurring Deposit Check Here Rates
State Bank Vs Post Office RD: If you are also looking for a good scheme to save, then today we will tell you about the RD that you can get good interest on which RD post office or State Bank. RD is considered to be the best option to save in today’s time. In RD, along with good interest, you will also get a guarantee of money.
Know where you will get more benefit?
In RD, account holders have to deposit money in fixed installments and on maturity you get the benefit of your money and interest. Please note that the installment amount once fixed in an IRD account cannot be changed. You can open RD at post office or bank anywhere. Today we will tell you whether you will get more benefit in RD of Post Office or in RD of State Bank-
Post Office RD
You can start RD in post office with Rs.100. There is no maximum limit for depositing money in this. If your account is opened within the first 15 days of the month, then you have to deposit Rs. At the same time, if you have opened your account after the first 15 days of the month, then you will have to deposit money in the account before the last date of the month. Loan can also be available in the post office RD scheme and at this time it is getting the benefit of interest at the rate of 5.8 percent.
State Bank RD
If you open an RD account in State Bank, then the general public will get the benefit of interest ranging from 5.25 percent to 7.25 percent. In State Bank, you can open RD for 1 year to 10 years. Apart from this, you can also take a loan against RD. You can open this account for a minimum period of 12 months.
Who can open RD
Any person above 18 years of age can open his account in RD scheme. A joint account can also be opened in this scheme. A minor’s account can also be opened on behalf of a guardian. If a minor is above the age of 10 years, then the account can be opened in his name also. You can open as many accounts as you want under this scheme.