There are many such schemes in the Indian Post Office in which you can start investing with less than Rs 500 and get good benefits.
Post Office Scheme: If you want to make money, investment is necessary. If you think that investment should be made only in large amounts and that is why you have not started investing yet, then this notion is wrong. Whatever investment you can start according to your income, do it because only investment can increase your money. If you save money and keep it safely, it will be spent in some circumstances or the other.
There are many such schemes in the Indian Post Office in which you can start investing with less than Rs 500 and get good benefits. Start with a small amount, then keep increasing the investment as your income increases. This is the way to make money. Let us know about some such schemes of the post office in which you can start investing with less than Rs 500.
PPF
Public Provident Fund i.e. PPF is a long term scheme. In this scheme, a minimum of Rs 500 and a maximum of Rs 1.5 lakh are deposited annually and the investment is made for 15 years. If you want, after maturity, you can also extend the account in a block of 5 years. If you invest even Rs 500 every month in this scheme, you will invest Rs 6,000 annually. At present interest is being given on PPF at the rate of 7.1 percent. In such a situation, by depositing Rs 500 every month in this scheme, you can add Rs 1,62,728 in 15 years at 7.1 percent interest. If it is extended for 5.5 years, then Rs 2,66,332 can be added in 20 years and Rs 4,12,321 in 25 years.
SSY
If you are the father of a daughter, then you can start investing in Sukanya Samriddhi Yojana in your daughter’s name. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually in this government scheme. At present, interest is being given on it at the rate of 8.2 percent. You have to invest in this scheme for 15 years and the scheme matures after 21 years. If you invest even Rs 500 per month in this, you will invest a total of Rs 90,000 in 15 years and at 8.2 percent interest, you will get Rs 2,77,103 after 21 years.
RD
Post Office Recurring Deposit i.e. Post Office RD Scheme is like a piggy bank in which a fixed amount has to be invested every month. This scheme helps small investors to create a corpus to meet their future needs. Investment in this can be started even with Rs 100. Once you start investing, you have to invest continuously for 5 years. At present the interest rate in this scheme is 6.7%. If you invest Rs 500 every month in this scheme, then you will invest Rs 30,000 in 5 years and after 5 years you will get Rs 35,681 at the rate of 6.7 percent i.e. Rs 5,681 as interest.
