Post Office RD Scheme: Saving money for the future is no longer a luxury, it has become a necessity. If you have money for needs like medical emergency, children’s education or retirement, then mental peace remains. Post Office Recurring Deposit (RD) Scheme is considered an excellent option
Post Office RD Scheme : Saving money for the future is no longer a luxury, it has become a necessity. If you have money for needs like medical emergency, children’s education or retirement, then mental peace remains. Post Office’s Recurring Deposit (RD) scheme is considered an excellent option. This scheme is run by the government. It gives common and middle class people an opportunity to create a big fund by saving small amounts.
What is Post Office RD?
RD or Recurring Deposit is a saving scheme in which you deposit a fixed amount every month. You get interest on this amount and over time this amount turns into a big amount. Post Office RD is special because it is a government guaranteed scheme. That is, your money is completely safe.
How much can one earn?
You can start with just Rs 100 per month in Post Office RD. If you deposit Rs 10,000 every month and this continues for 5 years, you will get around Rs 7,13,659 on maturity. This will include Rs 6 lakh as your deposit amount and Rs 1,13,659 as interest. For the July to September 2025 quarter, this scheme is getting 6.7% annual interest, which is compounded every three months.
If needed, you can get a loan
If you have run an RD account for a year, you can also take a loan of up to 50% of your deposit amount. However, the interest rate on this loan will be 2% higher than the interest rate of RD.
Who is this scheme for?
This scheme is especially beneficial for those who want to prepare for the future by saving a small amount every month. This includes salaried employees, small businessmen, laborers, housewives and students.
The period of the Post Office RD scheme is 5 years. But, if desired, it can be extended for another 5 years. That is, this scheme is beneficial for saving for a long period.
How to open an account?
To open an RD account, you will need Aadhar card, PAN card and passport size photo. It is necessary to deposit the amount once every month. If you do not deposit on time, then a penalty is charged. Now this scheme can be operated online as well.
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