Post Office Recurring Deposit: This scheme of the post office can be very useful for you. By investing in it, you can deposit up to Rs 10 lakh in a few years.
Post Office Recurring Deposit: Savings are a very important part of anyone’s life. If you have money saved, then you do not need to beg in front of others at the time of need. Because when difficult times come in life, relatives and friends may not be of help to you. But if you have savings, then it can definitely be useful. That is why different people invest money in different places.
So that they can save for the future. Some invest in mutual funds, some invest money in the stock market, some deposit money in bank FDs. Some deposit money in government savings schemes. If you are also looking for an option for savings, then this scheme of the post office can be very useful for you. By investing in this, you can deposit up to 10 lakh rupees in this time.
Invest in Post Office RD Scheme
Many people invest in Post Office savings schemes. If you are also looking for a way to invest, then Post Office Recurring Deposit Scheme can be very useful for you. Currently, you are getting 6.7% interest on your investment in Post Office Recurring Deposit. If you deposit Rs 7,000 every month in this scheme.
Then you can deposit Rs 4,20,000 in 5 years. If you calculate the interest amount at the rate of 6.7% in 5 years, then it comes to Rs 79,564, i.e. a total of Rs 4,99,564. But if you extend the scheme for another five years, then you can deposit almost Rs 10 lakh.
How to open an account in the scheme?
To open an account in the Post Office Recurring Deposit Scheme, you will first have to go to your nearest post office. There you will have to submit the necessary documents which will include documents like application form, passport size photo, address proof, PAN card. After filling the application form, give your application form to the post office employee along with all these documents. After this, your recurring deposit account will be opened in the post office. In which you will have to pay installment every month. You will have to deposit the first installment through cash or cheque.
