Post Office RD Scheme (Post Office Recurring Deposit) gives you the convenience of getting a huge amount in 5 years by depositing small amounts. Post office RD account earns more interest as compared to RD account of any government bank.
In this article, we will know that how much money will be received by depositing 1000 rupees every month in post office RD? After this, you will also know how much you will get by depositing 2000, 3000, 4000, 5000 or 10000 every month in the post office RD. At the end of the article, we will also share some important information about the post office RD account.
How much will you get after depositing Rs 1000 in post office RD?
By depositing Rs 1000 every month in the post office RD account, you will get Rs 69697. In this , the calculation of your total deposit and interest is as follows –
Every month you will deposit in Post Office RD- 1000 rupees
In 1 year the total accumulated by you will be- Rs 12,000
The total amount deposited by you in 5 years is- Rs 60,000
At the rate of 5.8%, the total interest on this will add up to- Rs 9,697
After 5 years you will get back your total deposit and interest together- Rs 69697
It is clear from this table that by depositing Rs 1000 in post office RD every month, you get a total of Rs 69697. You will get this amount on completion of the maturity period of 5 years.
How much will you get after depositing Rs 2000 in post office RD
By depositing Rs 2000 every month in the Post Office RD scheme, you will get Rs 139393. Its accounting will be done in this way-
You have to deposit every month in Post Office RD 2000 rupees
In one year you will accumulate- Rs 24000
Your total deposit in 5 years will be Rs 1,20,000
Total interest will be added according to 5.8% Rs 19,393
After 5 years you will get total money Rs 1,39,393
It is clear from this calculation table that by depositing Rs 2000 in post office RD every month, you get back a total of Rs 1 lakh 39 thousand 393. You will get this entire amount on the maturity of the account after 5 years.
How much will you get after depositing 3000 rupees a month in post office RD
By depositing Rs 3000 every month in the Post Office RD scheme, you will get Rs 2,09,090 back. In this, the calculation of total deposit and interest will be as follows-
You have to deposit every month in Post Office RD 3000 rupees
In 1 year you will deposit total- Rs 36000
In 5 years you will deposit total- Rs 1,80,000
According to 5.8%, the total interest will be made on this- Rs 29,090
After 5 years you will get total money back- Rs 2,09,090
This is clear from this calculation table. That in post office RD, depositing Rs 3000 every month, after 5 years you will get a total of Rs 2 lakh 9 thousand 90.
How much will you get after depositing Rs 5000 a month in post office RD
By depositing Rs 5000 every month in the post office RD account, you will get a total of Rs 3,48,484 back.
Every month you have to deposit in post office RD- 5000 rupees
In 1 year your deposit will be- Rs 60,000
In 5 years, the total accumulated by you will be- Rs 3,00,000
At 5.8%, the total interest on your deposit would be- Rs 48,484
After 5 years, adding your total deposit and interest, you will get- Rs 3,48,484
In this calculation table, you can see that by depositing Rs 5000 every month in Post Office RD, you get back a total of Rs 3 lakh 48 thousand 484. You get this amount as soon as the account matures after 5 years.
How much will you get after depositing Rs 10000 in post office RD?
By depositing Rs 10000 every month in Post Office RD, you will get a total of Rs 6,96,967. In this, the calculation of your deposit and interest will be as follows-
In Post Office RD, every month you will deposit- Rs 10,000
After 1 year your deposit will be- Rs 1,20,000
Your total deposit in 5 years will be- Rs 6,00,000
According to 5.8% total interest will be added on this- Rs 96967
After 5 years, your total deposit + total interest will be returned by adding- Rs 6,96,967
In this calculation table, you can see that by depositing Rs 10,000 every month in Post Office RD, you get back a total of Rs 6 lakh 96 thousand 967.
Important information about post office RD account
You can open the account of Post Office RD Scheme (Recurring Deposit) in any post office branch. In this, you have to deposit equal amount of money every month for 5 years. Other account terms and conditions are as follows-
How much money can be deposited in post office RD account?
In the post office RD scheme, you can start an account by depositing as little as Rs 100. That is, you can also deposit the minimum installment of Rs 100 per month. On top of this, any large amount can be deposited in multiples of 10. Just keep in mind that every month for 5 years you have to deposit equally.
How much interest do you get on Post Office RD?
Currently (in February 2023) interest is being received at 5.8% per annum on the post office RD account. The government announces its new interest rate before every quarter. In the interest rates of government schemes implemented from January 2013, the interest rate of 5.8% per annum has been kept on the post office RD.
Who can open Post Office RD Account?
Any adult person (18 years) can open a post office RD account in his name. Joint account can also be opened by 2 or 3 persons together.
An account can also be opened in the name of the child on behalf of his guardian. The guardian will have the right to operate the account till the child attains majority.
A child above the age of 10 years can open a post office RD account in his own name if he can put an identical signature and operate the account with his signature.
Any number of RD accounts can be opened in the name of a person. Any amount can be deposited and kept in each account.
