Post Office RD: Are you also planning to invest by saving every month? Investing in RD can help in building a big corpus. In RD, an amount is saved and invested every month, on which a fixed return is received.
Post Office RD: Are you also planning to invest by saving every month? Investing in RD can help in building a big corpus. In RD, an amount is saved every month and invested every month, on which a fixed return is received. Post office RD is a best option for investment. You can invest a fixed amount every month in Post Office Recurring Deposit. Post office RD is getting 6.7 percent annual interest.
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
In an RD of Rs 5,000 every month, you will invest 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.
Investment of Rs 3,000
If you invest Rs 3,000 in RD every month, 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.
Post Office Saving Scheme changes 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 one month interest on RD is more than Rs 10,000 then TDS will be deducted. The Finance Ministry of the Central Government reviews the interest available on small savings schemes every three months.
Also Read-
- Post Office Monthly Income Scheme: How is your monthly income taxed, check rules and benefits
- Post Office VS Bank RD: Where will you get the best return on monthly savings, check the interest rate first
- Post Office MIS: Earn Rs 1,11,000 annually from this scheme of Post Office, know the method
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