Your money is completely safe on investment in Post Office Recurring Deposit Scheme and there is no risk of any kind.
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Post Office scheme: If you are planning to invest in post office schemes. So the recurring deposit scheme of the post office can prove to be very beneficial for you. Because by investing in this scheme of India Post, you get a return of lakhs of rupees with good interest rates. post office recurring deposit Your money is completely safe on investment in the scheme and there is no risk of any kind, so the post office has become a popular option for the salaried middle class in India.
The post office offers a variety of schemes including recurring deposit schemes, which offer higher returns than bank FDs and RDs for better returns. Opening an RD account in the post office is easy and is available to any individual or child above the age of 10 years. You can start a monthly investment in this scheme with a minimum of Rs 100. Along with this, you also get the facility to increase your contribution in multiples of Rs.10 every month.
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Will get 5.8 percent interest
You are provided 5.8 percent interest rate on investment in post office RD. Explain that it needs to mature five years or 60 months, whichever comes first, from the date of opening the account. Customers can also withdraw up to 50 percent of their deposit amount after one year of account opening. Apart from this, after one year of opening the account, the depositor can also take a loan up to 50 percent of the deposit amount.
One of the important advantages of investing in Post Office RD is the protection of both the principal amount and the interest earned over time. The risk involved is absolutely zero, which makes it an attractive option for those who want to invest small amounts on a regular basis.
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This is how you can create a fund of 16 lakh rupees
If you save 10 thousand rupees ie 333 rupees daily and invest every month for 10 years. So you can get a return of around Rs 16 lakh in 10 years at the current interest rate of 5.8 per cent. The total deposit amount for ten years would be Rs.12 Lakhs, and the expected return would be around Rs.4.26 Lakhs, based on which the total return would be Rs.16.26 Lakhs. The compound interest is calculated every quarter, providing a steady income to the investors.
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