The 1.5 lakh post offices of the Indian Postal Department spread across the country also provide a variety of banking and remittance services. Where different schemes give different returns.
The Indian Postal Department runs many schemes through the post office for the convenience of the common people. One of these best schemes is the recurring deposit scheme of the post office. Actually the concept of recurring deposit is considered to be the oldest in India. Earlier this scheme was prevalent in most of the banks but with time now this scheme is available in many places including the post office. Actually its biggest feature is that you can easily make a big fund by depositing a small amount.
In this savings scheme of the post office, an interest of 5.8 percent is available. In this scheme, you have to deposit a fixed amount every month. If you have opened an account with Rs 2000 and run it for 5 years, then on maturity you will get full Rs 1,39,395.
In this way an amount of Rs 1.39 lakh will be received
The basic mantra of this post office saving scheme is to deposit a fixed amount every month on a fixed date. If you have opened an account for 5 years and deposit an amount of 2000 rupees every month, then in 60 months you have deposited an amount of about 120000, on which you get interest at the rate of 5.8 percent. It is around Rs 19,395. In this way, you can get Rs 1,39,395 on maturity by depositing just Rs 2000.
These are also features
More than one account can also be opened in this savings scheme of the post office. This account can be opened in any post office branch of the country. If the account holder wants, 2 people can also operate this account together. The 1.5 lakh post offices of the Indian Postal Department spread across the country also provide a variety of banking and remittance services. Where different schemes give different returns.
Popular Post Office Schemes
Post’s 9 such savings schemes which are very popular among the people. Especially savings schemes related to saving and recurring because even after investing less money in these schemes, good returns are available. Among them, Post Office Savings Account, National Savings Recurring Deposit Account, National Saving Time Deposit Account, National Savings Monthly Income Account, Senior Citizen Saving Scheme, Sukanya Yojana are very popular.
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