Post Office Recurring Deposit Account is opened for 5 years. At present, interest is available on Post Office RD at the rate of 5.8 percent.
Post Office Recurring Deposit Account: If you are planning to invest, then it is not necessary that you invest a huge amount at one go. There are many such schemes where you can invest small amount or as per your capacity. What matters is how regular you are in this matter. Today, there are many such schemes where if you invest even a small amount monthly, you can get guaranteed returns in a few years. One such scheme is Recurring Deposit (RD). People have had faith in RD for a long time. In this you can start investing even with Rs 100.
The amount with which you start your RD, you have to invest the same amount every month till it matures. You can open an account for RD in any bank or post office. In banks, you can open RD account for one year, two years or for any period as per your choice, but Post Office Recurring Deposit Account is opened for 5 years. At present, interest is available on Post Office RD at the rate of 5.8 percent. Let us tell you that if you start a monthly RD with an amount of Rs 1000, 2000, 3000 or 5000, then how much amount you will get on maturity.
On investment of Rs 1000
According to RD Calculator, if you invest Rs 1000 every month in Post Office RD, then you will invest a total of Rs 12,000 in a year and in 5 years you will invest Rs 60,000. In such a situation, in 5 years you will get a total of Rs 9,694 as interest at the rate of 5.8 and on maturity you will have a total of Rs 69,694.
On investment of Rs 2000
Whereas if you invest Rs 2000 every month in Post Office RD, then you will have to spend Rs 24,000 in a year. In this way you will invest Rs 1,20,000 in 5 years. You will get a total of Rs 19,395 as return in 5 years. Accordingly, you can add Rs 1,39,395 till maturity.
On investment of Rs 3000
Whereas if you invest Rs 3000 every month in RD for 5 consecutive years, then you will invest Rs 36,000 in one year and in 5 years you will invest a total of Rs 1,80,000. You will get Rs 29,089 as interest on your total investment and on maturity you will get Rs 2,09,089.
On investment of Rs 5000
Similarly, if you invest Rs 5000 every month, you will invest Rs 60,000 in a year and in 5 years you will invest a total of Rs 3,00,000 in RD. According to the annual interest rate of 5.8 percent, you will get a total of Rs 48,480 as interest and on maturity you will get a total of Rs 3,48,480. In this way, even by investing a small amount, you can earn a good amount of money for yourself in 5 years.
