Post Office | You can start investing in this scheme with as little as ₹100 per month. By saving ₹333 daily, you can earn up to ₹17 lakh.
With rising prices, many people today are trying to save a small portion of their income and invest it in safe schemes that give good returns. In this context, post office small savings schemes are quite popular. They offer a variety of savings schemes. Moreover, with these schemes backed by the Government of India, you don’t need to worry about safety and returns.
The most popular of these schemes is the Recurring Deposit (RD). You can start investing in this scheme with as little as ₹100 per month. Will you believe me when I tell you that you can earn up to ₹17 lakh by saving ₹333 every day? Let’s learn more about it in this post.
What is RD Scheme?
Post Office RD Scheme is a savings scheme in which you are required to invest a fixed amount every month. The government currently offers a fixed interest rate of 6.7 percent per annum. Anyone can join this scheme. Any Indian citizen can open an account under this scheme. Children above the age of 10 can also open an account with the help of their parents.’
How will you earn Rs 17 lakh?
If you save Rs 333 daily, you can save around Rs 10,000 every month. If you invest this amount every month in a post office RD account, then after 5 years, at an interest rate of 6.7%, your total investment will be Rs 600,000. You will get Rs 113,659 in interest only. At the end of 5 years, you will get a total of Rs 713,659. If you extend this scheme for another 5 years (total 10 years), your total investment will be Rs 1200,000. In 10 years, you will get a total of Rs 508,546 in interest. Similarly, in 10 years, you will get a total of Rs 1708,546.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
Add businessleague.in as a Preferred Source
