Things to take care of while investing in a post office recurring deposit

Only one investment tenure

You can invest only for a period of five years and renew again for five years only. There is no other investment tenure available for post office recurring deposits.

Not for emergencies

Keeping a deposit locked in for a minimum period of five years is long. Make sure to keep some amount of your savings in your savings bank account for emergencies. Don’t put all your savings into post office RDs.

Premature withdrawal

Make sure you do not withdraw your recurring deposit before maturity. Premature withdrawal might have a penalty.

Nomination Details

You should never forget to submit nomination details while opening a post office recurring deposit account. This will ensure that your money goes to the right person in case of your death.

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