Post Office RD: Are you also planning to invest your monthly savings? Investing in RD can help you build a big fund. In RD, an amount is saved every month and invested every month, on which a fixed return is received
Are you also planning to invest your monthly savings? Investing in RD can help you build a big fund. In RD, an amount is saved every month and invested every month, on which a fixed return is received. Post Office RD is one of the best investment options. You can invest a fixed amount every month in Post Office Recurring Deposit. 6.7 percent annual interest is being received on Post Office RD.
You will get this much interest on investing Rs 7,000 on RD
By investing Rs 7,000 every month in RD, you will invest a total of Rs 4,20,000 in 5 years. You will get interest of Rs 79,564 after 5 years and Rs 4,99,564 on maturity.
Investment of Rs 5000
Investing Rs 5,000 every month in RD will yield Rs 60,000 in one year and a total of Rs 3,00,000 in five years. You will get Rs 56,830 as interest at the rate of 6.7 percent after 5 years. You will get Rs 3,56,830 on maturity.
Invest Rs 3,000
If you invest Rs 3,000 every month in RD, then you will invest Rs 36,000 in a year. Your total investment in 5 years will be Rs 1,80,000. According to the post office RD calculator, according to the new interest rates, you will get Rs 34,097 as interest. You will get a total of Rs 2,14,097 on maturity.
There is a change in the post office saving scheme every three months
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. The Finance Ministry of the Central Government reviews the interest received on small savings schemes every three months.
