Post Office RD Scheme: The Post Office RD scheme is currently offering 6.7 percent annual interest rate. You can also take a loan in this scheme.
Post Office RD Scheme: It is not necessary that you have a large amount for investment. You can also start investing with your small savings. The most important thing in investment is your discipline and patience. If you invest even small amounts regularly every month, you can make big money in the long term. The Post Office’s guaranteed return RD scheme can help you in this. This scheme is government-backed. The government fixes the interest rate on it every three months. In this scheme, after maturity, you get a large amount including interest.
Interest rate on Post Office RD
The post office offers a 5-year RD scheme. It is currently offering 6.7 percent annual interest rate. This is a quarterly compounded interest rate. A minimum of Rs 100 per month can be invested in Post Office RD. There is no maximum investment limit.
Maturity will be extended beyond 5 years
In this scheme, you can extend the maturity period by 5 years by applying. Also, after depositing 12 installments and the account completes 1 year, you can also take a loan of up to 50 percent of the amount present in the account. The interest rate on this loan will be ‘2% + RD interest rate’.
This is how you can raise 15 lakh rupees in 5 years
If you invest Rs 21,000 every month for 5 years in the RD scheme of the post office, then about 15 lakh rupees will be deposited on maturity. On calculation, it was found that if you invest 21 thousand rupees from your salary every month in RD, then 14,98,682 rupees will be deposited in 5 years. In this, Rs 12,60,000 will be your investment amount and Rs 2,38,682 will be the interest income.
If you extend the period by 5 more years…
If you apply in the post office and extend the maturity period by 5 more years, then your fund will become quite big. This will give you Rs 35,87,944 on maturity. This will have an investment amount of Rs 25,20,000. At the same time, there will be an interest income of Rs 10,67,944.
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