People who like safe investment often prefer to invest in FD and RD because these schemes have a guarantee of getting fixed interest at a fixed time. RD is a better scheme for those who cannot deposit lump sum money in FD.
Such people deposit a fixed amount every month in the RD scheme and on maturity they get the total amount along with interest.
Apart from the bank, you also get the option of RD in the post office. The biggest advantage of RD (Post Office RD) in the post office is that you can start it from 100 rupees also. Those who are not able to save money, they can also withdraw minimum 100 rupees per month. At present, interest is being received at the rate of 6.2 percent on post office RD. Let us tell you how much can be earned through interest on RD of Rs 100 every month in the post office.
How much profit on depositing 100 rupees every month?
RD scheme is started in the post office for 5 years i.e. if you start investing in the scheme once, then you will have to invest continuously for five years. In this case, if you deposit Rs 100 every month in the post office, then you will deposit Rs 1200 annually and invest a total of Rs 6000 in 5 years. In this case, according to 6.2 percent interest, you will get Rs 1043 as interest only. In this case, after five years, you will get the invested amount of Rs.6000 including interest, that is, you will get Rs.7043.
Benefits of Post Office RD
– Post Office RD can be opened with Rs 100, this is such an amount that anyone can save easily. There is no maximum investment limit in this.
You get the benefit of compounding interest on post office RD. Interest is calculated quarterly. In such a situation, in the form of interest, you get a lot of profit in 5 years.
Any number of accounts a person can open in the Post Office Recurring Deposit Scheme. In this, apart from single, joint account can be opened for up to 3 persons. There is a facility to open an account in the name of the child as well.
– The maturity of RD account is 5 years. But, pre-mature closure can be done after 3 years. It also has the facility of nomination. At the same time, after maturity, RD account can be continued for further 5 years.
Loan facility can also be availed if needed on post office RD. After depositing 12 installments, a loan can be taken up to 50% of the amount deposited in the account.
