"ROYAL FINANCE MINISTER:'To make the
RECURRING DEPOSIT Accounts more popular in India, we are planning to
launch two types of Special RD A/cs. One is ROYAL RD and another one
is ROLLING RD. In ROYAL RD, one has to open a RD Account with an
amount of Rs. 5000/- only per month for a lock-in period of 5 Years.
The rate of interest of ROYAL RD is 15% (No TDS will be deducted). In
ROLLING RD, one has to open a RD Account with an amount
of Rs. 500/- only per month for a lock-in-period of 1 Year. The rate
of interest of ROLLING RD is 10% (No TDS will be deducted). After 1
Year lock-in-period, 50% of ROLLING RD amount can be withdrawn and in
the next year the entire amount can be withdrawn. This RD A/c will
get Rolled over and over every year with that fixed 10% interest rate
even after the maturity date after 1 Year. The invested amount in
ROYAL RD and ROLLING RD per year will get Tax exemptions under
Section 80C.' KING:'Fantastic! These RD Accounts will help the common
people and salaried persons of India to increase their wealth slowly
and steadily.'"-Arindam Sain
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