If you want to invest some money in such a place, where there is no risk of sinking your money, then post office’s RD scheme (Post Office Recurring Deposit) is best for you.
New Delhi. Investment Tips: If you want a good and guaranteed return on maturity along with a safe investment, then there is no better plan than the Post Office Recurring Deposit (RD) scheme. Its special thing is that this scheme runs under the supervision of the government, so there is no danger of losing money. By depositing some money in an RD account, a large fund can be created. RD account can also be started with a deposit of just Rs.100. At present, interest of 5.8 percent is being available on Recurring Deposit Scheme (RD).
There is no maximum limit for depositing money in this account. You can deposit as much as you want. According to the amount you deposit, you will get the return. Recurring Deposit (RD) can be opened for 1 year, 2 years, 3 years as per your convenience. Interest is charged quarterly on the money deposited in it. At the end of every quarter, your account is added (along with compound interest). In this way, there are many benefits of this scheme (Post Office Recurring Deposit Benefits).
Know Complete Mathematics
If you invest 10 thousand rupees every month in the post office RD scheme for 10 years, then after 10 years you will get more than 16 lakh rupees at the rate of 5.8%. That is, if you put 10,000 rupees every month and getting interest at the rate of 5.8 percent on it, on the maturity of 10 years, you will get Rs 16,28,963.
Keep this in mind
If you invest in RD account (Investment in Post Office Recurring Deposit), then keep in mind that it continues continuously. This means that its installments keep on depositing on time. If your account is closed without credit, then you will have to pay a penalty for starting it.
The amount of fine will have to be paid at the rate of 1 percent every month. If you do not deposit the money of 4 consecutive installments (RD Premium), then the account will be closed. If your account is opened within the first 15 days of the month, then you have to deposit Rs. At the same time, if you have opened your account after the first 15 days of the month, then you will have to deposit money in the account before the last date of the month.
Who Can Open This Account (Who Can Open RD Account)
In the post office RD scheme, any person above 18 years of age can open his account. A joint account can also be opened in this scheme. A minor’s account can also be opened on behalf of a guardian. If a minor is above the age of 10 years, then the account can be opened in his name also. You can open as many accounts as you want under this scheme.
Benefits of loan facility
Loan facility is also available in Post Office RD (Loan On Post Office RD). Loan can be taken only after depositing 12 installments. Up to 50 percent of the amount deposited in the account can be taken as a loan. But on the loan, 2 percent more interest will have to be paid than the interest on RD. If the loan is not repaid till the period of RD, then the amount given as loan will be deducted from the maturity amount.
