Post Office Savings - Minimum 10 Rupees per month

POST OFFICE SAVINGS - INDIA

5-Year Post Office Recurring Deposit Account (RD)

• You can deposit any money greater than or equal to 10 INR in the multiples of 5, every month.
  That is, 10,15,20,25,100,500,1000,10000,30000,etc. according to what you have. Don't tell me you don't have 10 rupees to deposit every month.
  
• The interest you receive is 7.3% per annum which is quarterly compounded.
  
  Confused? Don't worry.
  If you deposit (ten thousand) 10,000 rs every month for 5 years, you will get around 7,25,068 rs (7 lakh 25 thousand change) after 5 years. You could use this money to buy an asset which will bring you money every month.
  
• This account can be opened in cash/cheque
  You can open any number of accounts in cash or by cheque. Why are you waiting? Run to your nearest post office.
  
• You can deposit 6 months installment at one time
   Deposit 60 rs in advance for all the next 6 months instead of monthly 10rs  for 6 months.
  
• One withdrawal up to 50% of the balance allowed after one year.
  
• Default fee is charged for each default, default fee @ 0.05 for every 5 Rs
  If you delay paying, for every 5 Rs, 5 ps will be charged. So, pay on time before 15th of a month usually.

There are other Post Office Savings methods but, this one is convenient for all and has no Maximum limit.