Post Office RD Calculator: The government fixes the interest rate on the post office RD scheme every three months. Being government-backed, it is a safe investment scheme.
Post Office RD Calculator: If you want to create a big fund by investing your small savings every month, then 2 options are quite popular at this time. Mutual Fund SIP and Post Office RD. Both these investment options allow you to invest a small amount every month. But there is a lot of difference between the two. Mutual Fund SIP is a risky investment option. It invests in the stock market, debt and other assets. Whereas Post Office RD is a government-backed investment scheme. Therefore, it gives guaranteed interest. At present, 6.7 percent interest rate is being given on Post Office RD.
How to open an account in Post Office RD?
You can open your account in Post Office RD by going to your nearest post office. You can open as many accounts as you want in this scheme. In this scheme, a guardian can open an account in the name of a minor. If the minor has completed 10 years of age, he can also open an account. Also, a maximum of 3 adults can open a joint account here.
Deposit as much money as you want
There is no maximum limit for depositing money in Post Office RD. At the same time, a minimum of Rs 100 can be deposited. You have to make the first investment in Post Office RD while opening the account. After this, you have to deposit the same amount every month.
In how many years will the account mature
Post Office RD account matures in 60 months i.e. 5 years. This maturity period can be extended by 5 more years by applying in the post office. Loan facility is also available in this scheme. If you want, you can close the account even before maturity. However, in this case you will get only the interest of a savings account.
5 lakh fund from RD of Rs 3000
If you want, you can deposit a fund of Rs 5 lakh even from an RD of just Rs 3000 per month. If you invest Rs 3000 every month from your salary in Post Office RD, then in 10 years you will have Rs 5,12,565 deposited. In this, Rs 3,60,000 will be your investment amount and Rs 1,52,565 will be the interest amount.
Most Read Articles:
- 8th Pay Commission Salary Hike Chart: Salary will increase by this much on 2.86 fitment factor, See complete pay-level chart
- Post Office Scheme: Government will give 8.2% guaranteed return only to women, check plan details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
