Post Office Scheme: The post office brings such schemes from time to time for its customers, in which small investments make more profits, this is the government’s guaranteed scheme, share market There is no risk in this, just deposit money on time.
There are many such schemes running in the post office, which are being availed by the consumers. The post office keeps on bringing such schemes for its customers from time to time, in which after depositing money for the stipulated time and year, it gives a lot of profit in the end.
There is a risk on investing in the stock market, the one who can take the risk invests, the higher the risk, the more profit, the lower the risk, the less profit. But there is a scheme in the post office which has guaranteed returns with no risk.
You have to deposit 10 thousand rupees every month, in the
post office RD scheme (recurring deposit scheme), you can get more than 16 lakh rupees by depositing 10 thousand rupees every month. Depositing Rs.10-10 thousand per month in it for 10 years will give a return of Rs.16 lakh 28 thousand at the rate of 5.8 percent interest.
You can start investing with a small amount, you can start investing in
the RD scheme of the post office with a small amount i.e. 100 rupees. There is no maximum investment limit, you can invest as much money as you want. The returns in this investment are guaranteed.
The account for this scheme (Post Office Scheme) is opened for 5 years, although banks offer the facility of recurring deposit account for six months, 1 year, 2 years, 3 years.
Interest is determined every quarter (at an annual rate) and is added to your account (including compound interest) at the end of every quarter.
Interest will be available on RD
At present, 5.8% interest is being received on RD scheme , this rate is applicable from 1st April 2020. If you invest Rs 10,000 every month in the post office RD scheme for 10 years, you will get more than Rs 16 lakh after 10 years at an interest rate of 5.8%.
Money will have to be deposited regularly Under the RD scheme, you will have to keep depositing money regularly in the account. If you do not deposit the money, then you will have to pay a penalty of 1 percent every month . Your account is closed after 4 installments are missed. TDS is also deducted on investments made in recurring deposits.
If the deposit exceeds Rs 40,000, tax is levied at the rate of 10% per annum. Interest earned on RD is also taxable, but the entire maturity amount is not taxed.
