26 June 2015
I opened a RD account few years back.
They calculated the interest amount on simple interest method basis. But usually in banks calculated at quaterly compound basis.
I need to know what is the definition of R D account. as per Indian law can any one explain
26 June 2015
Recurring Deposit Accounts opened with post offices fetches interest rate of 8.4% per annum (quarterly compounded). In case of banks, rates of interest varies from bank to bank.
CAclubindia
