You can start investing in the post office recurring deposit scheme with just Rs 100. In this you can save your money for 5 years.
Post office’s superhit scheme will make your 10 thousand rupees a fund of 16 lakhs
If you also want to earn well by investing your money, then this news can prove to be useful for you. Today in this news, we will tell you how your small savings can give you big profits. By the way, there are many schemes of the post office, by investing in which you can increase your money up to 10 times. However, the post office recurring deposit has many advantages. In this, you not only get a good return on your money, but you can also take a loan against your deposit. Let’s tell how?
You can start investing in the post office recurring deposit scheme with just Rs 100. In this you can save your money for 5 years. In this you get 5.8% interest annually. Also, compound interest is calculated every three months.
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Maturity happens in 5 years
The maturity of PORD i.e. Post Office Recurring Deposit is in five years. Means your money gets locked for 5 years. After 5 years it can be extended once for another 5 years. If you start a monthly investment of Rs 10,000 in PORD, then you get around Rs 16 lakh on maturity. Know here how the calculation is done on PORD.
This is how calculation happens
You can start investing in post office recurring with just Rs 100 per day. Also, you can invest as much money as you want in this, there is no limit to investment.
Suppose if you deposit Rs 10,000 every month in this, then after 5 years you will have a guaranteed fund of Rs 6,96,968, on which you will get an interest of Rs 96,968. In this amount, 6 lakh rupees are for your investment, the rest is interest.
How much fund will be received in 10 years
On the other hand, if you extend it for another 5 years, then you will get a guaranteed return of Rs 16,26,476. In this, your investment of Rs 12 lakh will be the remaining Rs 4,26,476 as your interest. In this way, by investing 10 thousand every month, you can collect a fund of 16 lakhs in 10 years.
Loan facility is available on deposit
You can also avail loan facility against your deposit. For this, at least 12 installments should be deposited in the deposit, on which you can easily get up to 50% loan. You can repay the loan in one go or in easy installments. The interest charged on this will be 2% more than the interest received on RD.
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