Post Office Scheme: In terms of investment, there is a large class of people who still do not trust the market. They will of course get a little less benefit, but prefer to invest their money in those schemes in which they get guaranteed returns and the investment remains safe. This scheme of the post office can be useful for such people.
Post Office Scheme: In today’s time, SIP is considered a better means of investment, despite this, there is a large section of people who still do not trust the market. They will certainly take a little less benefit, but prefer to invest their money in those schemes in which they get guaranteed returns and the investment remains safe. If you are also one of such investors, then you can invest in Post Office Recurring Deposit (RD). You do not need to invest a large lump sum amount in it. You can get better returns even by investing a fixed amount every month.
Post Office RD is for 5 years. It gives 6.7% interest, which is calculated on quarterly basis. In this way, you can accumulate a good amount of funds. If you invest Rs 7000 every month in Post Office RD, then you can save Rs 5 lakh in 5 years and about Rs 12 lakh in 10 years.
Understand how 12 lakhs will be saved
If you invest Rs 7000 every month in this scheme, then you will invest a total of Rs 4,20,000 in Post Office RD in 5 years. In this, you will be given interest at the rate of 6.7 percent. In such a situation, according to the calculation, you will get Rs 79,564 in 5 years only as interest. In such a situation, by adding your invested amount and interest, your maturity amount will be Rs 4,99,564 i.e. about 5 lakh rupees.
If you extend this RD for 5 more years, you can add about 12 lakh rupees. In this case, your total investment will be 8,40,000. On this, you will get 3,55,982 rupees only as interest at the rate of 6.7 percent and on maturity you will get 11,95,982 rupees i.e. almost 12 lakh rupees.
Benefits of Post Office RD
Post Office RD can be opened with Rs 100, this is an amount that anyone can easily save. There is no maximum investment limit in this.
You get the benefit of compounding interest on Post Office RD. In such a situation, you get a good profit in 5 years as interest.
A person can open any number of accounts in Post Office Recurring Deposit Scheme. Apart from single, joint account can be opened for up to 3 persons. There is also a facility to open an account in the name of a child.
The maturity of RD account is 5 years. But, pre-mature closure can be done after 3 years. There is also a facility of nomination in this. At the same time, after maturity, the RD account can be continued for another 5 years.
