Post Office RD Rules: Financial conditions is coming in the way of depositing RD installment, adopt this option..

Post Office RD Rules: Nowadays there are many types of options available in terms of investment. RD is one of them. You get the option of RD in both the bank and post office. Post Office RD is for 5 years. In this, a fixed amount has to be deposited every month on a fixed date. Many times you start investing, but in the middle, such a financial problem comes that it becomes difficult to withdraw the installment.

If you do not deposit the installment of Post Office Recurring Deposit by the prescribed last date, then you also have to pay a penalty at the rate of 1% per month. At the same time, if several installments are not deposited continuously, your account can be closed. But you feel that the financial problem has not been for a long time, it has been for some time. So in such a situation, instead of closing the account, it is better to extend the Maturity Period. This will also give you relief from the installment and your account will also not be closed. Know what the rule says.

If you are unable to deposit installments, try these options.

If you feel that your financial condition is not good and you may face difficulty in depositing installments continuously for some time, then you can extend the maturity period of your account. But you have to do this before you miss four installments. If you think of applying for this option after not paying installments for four months continuously, then it will not be possible. Keep in mind that the extension time of the maturity period can be extended only for the number of months you are not able to pay the installment.

There is a chance to restart a closed account as well.

When you are unable to deposit four consecutive installments in the post office, then your account is closed. But if you apply to restart it within the next two months, then it can be started again. In case of restarting, you first have to deposit the outstanding installments of the previous month along with the penalty. But if you do not submit any application within two months, then it is completely closed.

You can also deposit the installment in advance.

If you want, you can also deposit the RD in advance. This option is better for those who want to avoid the hassle of depositing every month. But you have to deposit at least six months' advance installment. On depositing 6 months' advance installments, you get a discount of ₹10 on every ₹100 and on depositing one year's installment together, you get a discount of ₹40 on every ₹100.

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