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Post Office Best Scheme: Experts say that it is best to invest consistently to maximize long-term profits. There are many investment options available in today’s market, but all of them involve risk. However, investing in government schemes, bonds, bank deposits, etc. can provide stable income. There is no risk involved.
If you want to invest a small amount and get a large amount without any risk, then the Post Office Recurring Deposit Scheme is perfect for you. Today, Recurring Deposit Scheme is a very popular scheme. Apart from banks, post offices also have this recurring deposit scheme. Let’s see how much you will get in 5 years if you deposit Rs 2000 every month in Post Office Recurring Deposit Scheme.
The most popular post office savings scheme is the 5-year National Savings Recurring Deposit Account. This post office recurring deposit currently offers an interest rate of 6.7% per annum.
According to this calculation, if a person pays Rs 2000 every month in a post office fixed deposit scheme for 5 years, the total investment will be Rs 1,20,000. That is, a total of Rs 1,42,732 will be received at maturity.
If a person deposits Rs 2,000 every month for 5 years in a post office recurring deposit scheme, he will get Rs 22,732 as interest on maturity. This interest calculation is done assuming that the current annual interest rate of the post office is 6.7%.
You can open a recurring deposit account at the post office with a minimum of Rs 100. However, even if you open an account with Rs 100, there is a facility to deposit the amount in multiples of Rs 10.
There is no limit on this investment. Investors can open multiple accounts. Apart from an individual account, a joint account can be opened by 3 people. Although the tenure is 5 years, the account can be closed before maturity in 3 years. There is also a facility to extend the term of the account for 5 years after maturity.
