To take advantage of the Post Office Recurring Deposit scheme, you have to deposit money every month on a fixed date. In this scheme, you can deposit your money every month from the 1st to the 15th.
When it comes to saving, people usually try to choose a bank or something in which to get a definite return. Especially people do not want to take much risk for small amount. If you also want to collect big funds by depositing small amount for a certain period, then the post office recurring deposit scheme can prove to be right for you. In this scheme you get an interest of 7.10 percent. Through which you can make big funds with small amount. Let’s know how
In the post office recurring deposit scheme, if you get 1000 rupees per month, then at the interest of 7.10 per cent, it is 12,468.84 rupees in a year. If you increase this for 5 years, then only 1000 rupees a month (which is about 33 rupees per day). From this, you can create a fund of 72, 122.97 rupees. 60 thousand rupees your principal + 12,122.97 rupees interest.
You can deposit money in this way
To take advantage of the post office recurring deposit scheme, you have to deposit money every month on a fixed date. In this scheme, you can deposit your money every month from the 1st to the 15th. If you have opened an account on 1st of the month then you can deposit till 15th of the month. On the 16th, the last chance of deposit in an open account is for you till the last date of the month.
Two people can run an account together
More than one account can also be opened in a post office recording deposit. This account can be opened in any post office branch in the country. If the account holder wishes, then 2 people can also operate this account together. The 1.5 million post offices of the Indian Postal Department spread across the country also provide a variety of banking and remittance services. Where different schemes get different returns.
Get up to 8.4 per cent interest
Post office savings schemes get interest ranging from 4 percent to 8.3 percent. You can easily get complete information about every scheme on India Post’s website. Post 9 such savings schemes which are very popular among the people. Especially saving schemes related to saving and recurring because even if you invest less money in these schemes, you get good returns.
