Investing in the post office is considered the safest. Its savings plans give you good returns. If you are also making an investment plan, then here information is being given about one such scheme.
It gives you high returns for less money. In this you can start investing even with 100 and get lakhs in just a few years. Let us know about this special scheme as well as how you can get more than 15 lakhs in it.
Invest in Post Office RD Scheme Post Office
Recurring Deposit or RD Deposit Account is a scheme in which you can invest a maximum amount of Rs. It gives you high interest rate on a nominal deposit. In this, you can start investing with as little as Rs 100 and there is no limit on the maximum investment, you can invest as much as you want.
Under this scheme, the account is opened for five years. Whereas banks allow opening of a recurring deposit account for six months, one year, two years and three years. In this, the interest rate on the money deposited every quarter is calculated according to the annual interest rate and it is credited to your account with compound interest till the end of the quarter.
How much interest is available
Under this scheme, 5.8% interest rate is given on recurring deposit schemes in the post office. This rate has been implemented from 1st April 2020. Explain that the Government of India sets interest rates for all its small savings programs every quarter.
How to get more than 15 lakhs
If you are investing 100 rupees every day, then you have to open three accounts of 100 -100 rupees under this scheme. Or you can open a single account for Rs 10,000. On which the return of 5.8 percent will be given and you can invest in it for 10. On which you will get more than 15 lakh rupees.
Investment
Interest of Rs 10,000 every month 5.8%
Maturity 10 Years
10 Years After Maturity Amount = Rs 16,28,963
Tax on Post Office RD
If the deposit exceeds Rs.40,000, 10% annual tax is applicable. Under this scheme, exemption is given on RD like FD under Form 15G.
