How to get Rs 7.30 lakh from post office without taking any risk? Know the complete details of this wonderful scheme

News India Live, Digital Desk: Whenever it comes to saving or investing money, we all look for a place where our money is completely safe and we also get good returns on it. There is risk in the stock market, and not everyone is comfortable investing money in it. In such a situation, even today a large section of India Post Office That means he trusts the post office schemes the most.

And this trust is not there just like that! Post office schemes are not only 100% safe, but the returns on them are also quite good. Today we are going to tell you about one such amazing scheme of the post office, in which you can save a little every month in 5 to 10 years. ₹7.30 lakh Can prepare a fund of more than Rs. this is the scheme Post Office Recurring Deposit (RD) Scheme,

What is the RD scheme of post office?

Recurring Deposit (RD) is like a kind of piggy bank, in which you deposit a fixed amount every month. This scheme is best for those people who cannot invest a large amount at once, but want to create a big fund by saving some part of their salary every month.

The post office RD scheme is for 5 years and is guaranteed by the government, which means there is no risk of losing every single penny of yours.

How to make ₹7.30 lakh? Let’s understand the complete mathematics

Let us understand with a simple example how you can create a huge fund with this scheme.

• Duration of the scheme: Post Office RD is for 5 years (i.e. 60 months).
• Interest Rate: Presently, at Post Office RD 6.7% Annual interest is available (this rate may be changed by the government from time to time). Its most important thing is that the interest is compounded on quarterly basis, that is, you get interest on the interest also.

Now look at the calculation:

• On this you will get interest at the rate of 6.7%: Approx. ₹1,13,659
• So, the total amount you will get on maturity after 5 years is: ₹7,13,659

This amount is more than 7 lakhs! If you extend this RD for the next 5 years (this facility is available in the post office), then this amount can increase to a huge amount, which will help in fulfilling any of your big dreams like child’s education, marriage or down payment for buying a house.

Some more special things about Post Office RD Scheme:

1. Complete security guarantee: This is a government scheme, so there is no market risk in it.
2. Loan facility: If you need money in between, you can also take a loan against your RD.
3. Who is it best for? This scheme is for everyone who wants to add money for their future in a secure manner, without any tension. This is the best and most reliable way of saving for middle class families.

So if you are also looking for a scheme with safe and guaranteed returns, then the Post Office RD scheme can be a great option for you.