Post Office RD Scheme: Everyone must have some means of investment in their life. So that they can earn a lot of money in the future. Similarly, if you also want to earn good money, then invest in RD. In this scheme (Post Office Scheme), you can save some money every month and invest, and get fixed returns after maturity.
Post Office RD Scheme
We are talking about the RD scheme of the post office. Many people have deposited lakhs of rupees in this recurring deposit scheme. In today’s time, this is the best option to get good returns. In this RD scheme, you can open an account for 5 years. Let us know how much interest is being given in this scheme….
Now you will get this much interest
Now talking about the interest rate of this post office RD, it is getting 6.7 percent annual interest. Earlier, 6.50 percent interest was available on 5-year RD account. In such a situation, the government had increased this post office scheme by 20 basis points. This increase was done in the middle of December 2023.
Also Read: Fixed deposits: Top 6 banks offer highest interest rates on their 5-year FDs
You will get this much on depositing Rs 4,000
As you know, in this scheme, you have to deposit some money every month, and after 5 years you get a lump sum amount on maturity. If you open an account in RD by investing Rs 4,000 every month, then you will invest a total of Rs 2,40,000 in 5 years. At the rate of 6.7 percent interest on this deposit, you will get Rs 2,85,463 on maturity. Out of which Rs 45463 will be earned only from interest.
The interest rate changes every three months
For your information, let us tell you that the interest rates of all small savings schemes are changed by the central government. If you also invest in this recurring deposit (Post Office Scheme), then you can get good returns. TDS is deducted on the interest received on RD. TDS of 10% is applicable on the interest rates received on RD. If the interest on RD for one month is more than Rs 10,000, then TDS will be deducted.
Loan is available on RD
If you need money in between then you can also take a loan on this RD account. You will be given a loan of 50% of the total deposit amount. This will be given to you after 3 years of RD (Post Office Scheme).
