BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the silent features of 5-Year Post Office RD Account?
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Account can be opened by cash /Cheque and in case of Cheque the date of deposit shall be date of presentation of Cheque.
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Nomination facility is available at the time of opening and also after opening of account.
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Account can be transferred from one post office to another.
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All of the given options are the silent features of 5-Year Post Office RD Account.
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Explanation:
Detailed explanation-1: -The 5 year Post Office Recurring Deposit (PORD) scheme allows you to save on a regular monthly basis for 5 years i.e. 60 monthly installments. These deposits earn interest as per applicable rate compounded on a quarterly basis.
Detailed explanation-2: -You are allowed to close the Post Office Recurring Deposit (RD) at any point of time after 3 years of completion. But you will not receive the RD interest rate on such premature closure account.
Detailed explanation-3: -The Post Office Recurring Deposit interest rates for the period January 2023 to March 2023 is 5.8%. The interest rates have remained unchanged from 1st April 2020.
There is 1 question to complete.