Post Office Deposit Account: Many times we do not know a good way to invest our money properly, due to which we are not able to earn profit. But if you have the right information about the schemes, then you can not only earn good profits but also get rid of many difficulties in old age.
But there is such a scheme from which you can earn a lot of profit. In this post office scheme, you can get up to Rs 16 lakh by investing Rs 10,000. Actually it is a Post Office Recurring Deposit Account, on which there is a government guarantee along with good interest.
6.2 percent on interest
Similar to post office fixed deposit account, but when you invest in it, it becomes easier than FD. Although in Fixed Deposit you have to deposit all the money in one go, but in Post Office Recurring Deposit you can earn interest by investing the right amount every month. If you have deposited money in this account, then you will get an interest of about 6.2 percent.
This interest is compounded every three months in the form of a compound amount. Let us tell you that this post office scheme is not linked to the market, so there is no risk regarding the returns in it. Your money will never sink in this, you can invest your money without worrying.
At least 100 rupees will have to be given every month
The post office gives you interest on the basis of compounding in the recurring deposit account. This means that the longer the time, the more profit is received. In such a situation, if you want profit, then try to invest in it for a long period. Apart from this, you can also open an account in the post office by investing at least 100 rupees every month. On the other hand, if you want to deposit more money than this, then multiply it by 10. There is no limit on the maximum amount that can be deposited.
How did 10 thousand rupees become more than 16,00,000?
You have to invest in this scheme for 10 years. 10 thousand will have to be invested every month, that too for 10 years, that means if you look at the calculation, your total investment will be more than Rs. On this you will get more than Rs 16,00,000 in 10 years at the rate of 6.2 percent interest.
If you cannot deposit 10 thousand rupees every month, then you can make more than 5 lakhs in 10 years even by depositing 3000 rupees every month.
