Post Office: If you are looking for a place to invest with better returns, then today we are going to tell you that you can invest Rs 10,000 in Post Office for 10 years, in which you will get the money on maturity. Will get returns. Let us know in detail about how to invest in this scheme of the post office in the news below…
New Delhi: If you want to make money work, you will have to invest it in the right place. Money will not be lost and returns will also be good. Everyone is looking for such a scheme. Post office savings schemes are very good for this.
These days, interest on RD is also very high. Return on investment in post office is good. If you also want to invest, then Recurring Deposit Scheme (Post Office recurring deposit Account) is a great option. Just invest Rs 10,000 and forget about it for 10 years. You will get strong returns on maturity.
What is Post Office RD Account?
Recurring Deposit Account (RD Deposit Account) of Post Office is a saving instrument. In this, a small amount can be made bigger by depositing it. You can decide in advance how much you have to invest every month.
There is a government guarantee on this. The scheme can be started with just Rs 100. The amount can be increased in multiples of Rs 10. There is no maximum limit on investment. You can invest as much as you want.
By when do you have to deposit the money?
If you also want to open an RD account in the post office, then definitely understand the rules. For the first time the investment will be for 5 years. If you want to extend it for 10 years, then you will have to submit a separate application for this in the post office.
And there will be an extension of 5 years. The special thing about the scheme is that interest on deposits is calculated every quarter (on the basis of annual rate).
Meaning, whatever interest will be earned on the amount deposited in your account, it will be added at the end of every quarter. The formula of compound interest works in this. Meaning, interest is also added on the interest of the previous quarter.
Investment of Rs 10,000 deposited will become Rs 16 lakh.
If you invest Rs 10,000 every month in the RD scheme in the post office and keep the investment regular for 10 years, then maturity will be considered only after 10 years. If you get returns at the rate of 5.8% for 10 consecutive years, then you will get Rs 16 lakh 28 thousand, 963 on maturity.
Investment (monthly) – Rs 10,000
Total period – 10 years (5+5)
Interest- 5.8%
Maturity- Rs 16,28,963 (with compound interest)
You can deposit 12 months advance
There is also a facility of advance deposit in the RD scheme of the post office. Money for 12 months can be deposited together. If desired, the entire 5 years’ money can also be deposited in advance. The advantage of doing this is that you will get some rebate on the investment.
