Post Office’s great scheme: Investing in post office scheme is considered the safest even today. If you are looking for good returns, then the RD scheme of the post office is the best for you, then know how a small investment of ₹ 5000 in the RD scheme will create a huge fund of lakhs.
If you are looking for a safe and profitable investment for tomorrow, then the Recurring Deposit (RD) scheme of the post office can be a great option for you. This scheme is great for those investors who want to create a big fund by saving a little every month. This scheme of the post office is considered to give 100% guaranteed return, that is, your money is completely safe here. There is no risk in this scheme and you will keep getting assured returns at the fixed interest rate. It is now easy to create a big fund from its small savings.
Yes, if you want to create a big fund by making small savings every month, then invest in the Recurring Deposit (RD) scheme of the post office. The amount deposited in it gets the sovereign guarantee of the Government of India, that is, the money remains safe. Whereas in banks only an amount of up to ₹ 5 lakh comes under the guarantee. But the maturity period of this scheme is 5 years, but you can also extend it for 5-5 years.
Starting Recurring Deposit
You can start investing in the Post Office Recurring Deposit Scheme with just ₹ 100 per month. There is no maximum investment limit in this. Currently, about 6.8% annual interest is being received on Post Office RD, which is added on the basis of compound interest. In this scheme, investors get both the options of single account or joint account.
What does the calculation say
If you deposit about ₹5000 every month in the RD scheme of the post office, then in 5 years your total investment will be about ₹3 lakh. On this investment, at the rate of 6.7% per annum, you will get an interest of about ₹56,830, that is, you can get a total of ₹3,56,830. On the other hand, if you extend this scheme for 5 more years, then the total investment will be ₹6 lakh and the interest will be about ₹2,54,272. Also, in this way, a fund of about ₹8,54,272 can be prepared in 10 years.
Penalty can be imposed
If you do not deposit the installment on time in the RD scheme of the post office, then a penalty can also be imposed. It is believed that this penalty is about ₹100 every time. But if you do not deposit the installment 4 times in a row, then your account can be closed.
Let us tell you that in this scheme, after completion of one year, there is a facility to take a loan of up to 50% of the deposit amount. However, this loan can be taken in one go and it can be repaid in lump sum along with interest. (Note: This article is for information only and should not be considered as investment advice in any way, suggest consulting financial advisors for investment).
