Post Office RD: If you want to get a big amount on maturity by investing in the post office, then you can get a return of lakhs of rupees by investing in the recurring deposit scheme. In this, your money will be 100 percent safe. That is, there is no risk of any kind. Know the specialty of this scheme
Post Office RD: In today’s economic era, everyone wants to earn big money. If you also want to make a big fund by making a big investment, then today we are telling you about a better scheme of the post office. This is the Recurring Deposit (RD) of the post office i.e. the postal department. In this, your money will be 100 percent safe. That is, there is no risk of any kind.
Let us tell you that there is a sovereign guarantee of the Government of India on the deposit of the post office. Whereas the maximum amount of Rs 5 lakh is safe on deposits in banks. In this way, you can create a fund of lakhs by investing small savings every month. Post Office Recurring Deposit (RD) is such a scheme. Which promotes small savings. Although its maturity is 5 years, but you can also extend it for 5-5 years.
Investment of at least Rs 100 is necessary in RD
At least Rs 100 has to be deposited every month in the RD of the post office. There is no maximum investment limit in this. Through this, great returns can be achieved. Talking about the interest under this scheme, the interest of RD Scheme is 6.8 percent. Along with this, interest will be available at the rate of compound interest. Both single account and joint account facility is available in RD.
5000 rupees will get more than 8 lakhs after 10 years
If you invest Rs 5000 every year in this scheme, then you will deposit a total of 3 lakh rupees in the maturity period i.e. 5 years. Rs 56,830 will be added to this at an interest rate of 6.7 percent. In total, it became Rs 3,56,830 in 5 years. Now if you extend it for another 5 years, then in 10 years your deposit amount will become Rs 6 lakh. With this, at an interest rate of 6.7 percent, it will become Rs 2,54,272. According to this, the total amount in 10 years will be Rs 8,54,272. That is, a fund of more than Rs 8 lakh will be ready. In this, compounding of interest is done on a quarterly basis.
Penalty can be imposed
If the deposit is not made on time, a penalty has to be paid. It will be Rs 1 for every Rs 100. This means that if you are unable to deposit any installment, then you will have to pay a penalty of 1 percent. At the same time, if you do not pay the installment 4 times, your account will be closed.
There is a loan facility
After one year, the facility of taking a loan of up to 50 percent of the deposited amount is also provided. Which can be repaid in lump sum along with interest. Not only this, this account can also be transferred from one post office to another. Installment can also be deposited online through IPPB savings account.
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