Post Office RD Plan: Investing in Post Office Small Savings Scheme Recurring Deposit is completely safe. You can start investing in this scheme with Rs 100 and there is no limit on the maximum investment. Post office scheme recurring deposit is currently getting interest at the rate of 5.8 percent.
Even in the era of mutual funds, you can earn good profits by investing in the post office. The post office runs many savings schemes for its customers. By investing in these schemes, you can collect big money for your future. Investing in Mutual Funds is risky, but if you want to make a safe investment, you can invest in Post Office schemes. You can invest in Post Office Recurring Deposit scheme to get decent returns without any risk.
You can start with Rs.100
Investing in Post Office Small Savings Scheme Recurring Deposit is completely safe. You can start investing in this scheme with Rs 100 and there is no limit on the maximum investment. You can invest in a recurring deposit scheme for a tenure of one year, two years or more as per your convenience. In this, interest is earned every quarter on the amount invested. At the end of every quarter, the interest amount along with compound interest is credited to your account.
How much interest do you get?
Post office scheme recurring deposit is currently getting interest at the rate of 5.8 percent. This rate is applicable from 1st April 2020. The central government fixes the interest rates of its savings scheme every quarter. Anyone can open this scheme by going to the post office. If you invest in this scheme for a long time, then you can collect lakhs of rupees.
How to get 16 lakhs?
If you invest Rs 10,000 every month in a recurring deposit scheme, then after 10 years you will get an amount of Rs 16 lakh more. Suppose you deposit 10,000 rupees every month, then in a year you will deposit one lakh 20 thousand rupees. Similarly, you have to invest in this scheme for 10 years.
In this way you will deposit Rs 12,00,000 as investment. After this, after the maturity of the scheme, you will get Rs 4,26,476 as return. In this way you will get a total of Rs 16,26,476 after 10 years. In this way you can invest lakhs of rupees by investing in recurring deposits.
Loan facility available
Anyone who is 18 years of age or above can open an account in a recurring deposit scheme. Parents can also open an account for their minor child. In this scheme of post office, you also get the facility of taking loan. You can take a loan by paying 12 instalments. 50 percent of the total amount deposited in the account can be found as a loan.
