North India Statesman
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Post Office Recurring Deposit (RD): Make big investment for small savings, you will get ₹ 17 lakh in 10 years
Are you looking for a government scheme where your money is completely safe and you get great returns along with guarantee? If yes, then the post office Recurring deposit (rd) The scheme can be a great option for you. In this scheme, you can prepare a big fund in a few years by depositing a small amount every month.
How to get ₹ 17 lakh? Understand complete mathematics
Often we ignore small savings, but this savings can do great wonders. The attraction of this scheme is hidden in its mathematics:
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Rose savings: If you every day ₹ 333 Save
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Month investment: This month is about ₹ 10,000 It is made.
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Investment duration: You have to continue this investment for 10 years.
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Interest Rate: Currently on post office rd 6.7% The rate of annual interest is being received, which connects to your account every three months (compounding).
If you deposit ₹ 10,000 every month for 10 years, then your total investment will be around ₹ 12 lakh. By adding interest on this, you get closer to maturity ₹ 16.98 Lakh (About 17 lakh rupees) will get an amount.
What are the special things of this RD scheme?
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Who can open an account?
Any Indian citizen, whether an adult or a minor above 10 years, can open this account. If you want, you can also open a joint account together. -
Minimum Investment:
You just ₹ 100 per month You can start investing in this scheme from. There is no maximum investment limit. -
Scheme duration:
The post office RD account is opened for 5 years. If you want, you can increase it further for the next 5 years, which will make your investment 10 years old. -
Loan facility:
When needed, after depositing 12 installments, you can also take up to 50% of the amount deposited in your account.
This scheme is the best for those who want to save in a disciplined way and earn a certain return by staying away from market risk.
