Post Office Recurring Deposit: While investors get good returns from investing in the RD of the post office, there is also a complete guarantee from the government on its security.
Post Office Recurring Deposit: If a person wants complete protection of his money along with investment, then post office investment options can prove to be beneficial for him. Better returns can be achieved by investing in these Nivesh medium of postoffice. In today’s report, we will discuss about the Post Office Recurring Deposit (RD) . Market experts say that post offices can start investing in recurring deposits with very little money. Not only this, the money invested in it is also completely safe. According to the information received from the post office, any investor can invest 100 rupees a month in a post office recurring deposit.
Know how much interest is getting,
however there is no upper limit of investment in this option and how much can be invested in it. Where investors get good returns from investing in the RD of the post office, there is also a complete guarantee from the government on its safety. According to the information, RD account can be opened in the post office for 5 years. Interest is calculated on the amount deposited in the recurring deposit every three months (at the annual rate). Every quarter, compound interest is added to the account. According to information received from India Post (Indiapost) website, currently 5.8 percent interest is being paid in the recurring deposit. These interest rates are effective from 1 April 2020. Let us know that the central government reviews the interest rates on all its small savings schemes every three months.
Investing 10 thousand rupees will be invested. More than Rs. 16 lakhs
Experts say that if a person currently invests 10 thousand rupees in a post office recurring deposit every month, then after 10 years on the maturity period based on the current interest rate 16.28 lakh rupees. According to the information, in case of not depositing the RD installment, the investor will have to pay a fine. In case of delayed installment, the investor will have to pay a penalty of 1 per cent every month. At the same time, if 4 consecutive installments are not deposited, the account will also be closed.
