If you are planning to save some money amid this corona pandemic, then Post Office RD can be a good option for you. In this post office scheme, an individual including a farmer will have to invest a very small amount of money that will result in a big amount after few years.
Apart from this, you can make big money in less time investment. The best thing is that here you will get guaranteed money security along with good returns. In such a situation, you can invest without risk.
Benefits of Recurring Deposit (RD)
In the Post Office Recurring Deposit (RD) scheme, you can make a large amount by saving small. The post office RD is giving 5.8% interest, which is better than FD. You can make a big amount by investing just Rs 100 in RD daily.
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How much money has to be invested in a month?
If you invest Rs. 5000 every month in a post office recurring deposit, then after 10 years you will get about Rs. 8,14,481 with an interest rate of 5.8% per annum. That is, you will get Rs. 214,481 as interest.
Account can be opened with Just Rs 100
Post office recurring deposit accounts can be opened for five years. Currently, the scheme is getting 5.8 percent interest. Also, the Government of India announces interest rate of all its small savings schemes every quarter. A minimum investment of Rs. 100 can be made in the post office recurring deposit scheme. In this scheme, returns are given according to fixed interest.
