Post Office RD: To get a huge amount on maturity, you can invest in Post Office RD scheme. Let us know the details of this scheme.
Post Office RD Scheme: With changing times, there are many investment options available nowadays, but Post Office Scheme is the first choice of many people for safe investment. Today we are telling you about one such scheme. Post Office Recurring Deposit Scheme is a great and strong return scheme. Under this scheme, you can get huge returns by investing a small amount every month. If you are also thinking of investing in this scheme, we are telling you about the details of the scheme.
Getting the benefit of such interest rate
The government decides the interest rates of small savings schemes of post office on a quarterly basis. In the last week of September, the government has fixed the interest rates of the Small Savings Scheme. In such a situation, between October and December 2023, the government has fixed the interest rate of the 5-year RD scheme of the post office at 6.70 percent. Earlier it was 6.50 percent. In this case, it has been increased by a total of 20 basis points. These rates are applicable between October 1 and December 31, 2023.
Build a big fund by investing small amounts every month!
You can create a big fund by investing a small amount every month in the RD scheme of the post office. According to the post office RD calculator, if you invest an amount of Rs 5,000 every month for a total of 5 years, then a total of Rs 3 lakh will be collected in this scheme. At the rate of 6.70 percent, you will get Rs 56,830 as interest on this amount. In this case, you will get Rs 5,56,830 lakh on maturity.
Loan is available against RD amount
Under the Recurring Deposit Scheme of the Post Office, customers also get the facility of loan against the deposited amount. You can take 50 percent of the total deposit amount as loan. Keep in mind that the loan can be taken only after 3 years and its interest rate is 2 percent more than the interest rate of RD scheme.