Are you searching for a safe investment scheme then Post Office’s 5-year recurring deposit scheme can be a great option for you. By investing in this scheme, you can not only secure your future but also get a loan if needed.
What is a Recurring Deposit Scheme
Recurring Deposit Scheme is a scheme in which you have to deposit a fixed amount every month. The tenure of this scheme is 5 years, but you can also extend it. By investing in this scheme, you get a fixed interest rate.
How much to invest
You can invest a minimum of ₹ 100 per month in this scheme. There is no maximum investment limit, you can invest as much as you want.
If you invest ₹3,500 per month for 5 years, your total investment will be ₹2,10,000. You will get an interest rate of 6.7% on this amount. Thus, your total return will be ₹2,48,465.
Interest rate
The post office offers you an interest rate of 6.7% for a period of 5 years. This interest rate may also change from time to time.
Loan facility
By investing in this scheme, you can also take a loan. But for this, you have to invest for at least 1 year. The loan amount can be up to 50% of the amount you have deposited. You can pay the loan amount in a lump sum or in monthly installments.
How to Invest
You can invest in the RD scheme by visiting any branch of the post office. You have to carry your Aadhar card, PAN card, and identity card.
Benefits of the Post Office RD Scheme
Fixed interest rate: The interest rate of this scheme is determined by the government and changes from time to time.
Flexible investment: You can start investing in this scheme with a minimum of ₹100 per month and can invest any maximum amount.
Loan facility: If you need, you can take a loan of up to 50% of the amount invested in this scheme.
Safe investment: Post office schemes are completely safe.
Choose the Post Office RD scheme
Safety: Post office schemes are backed by the government and are completely safe.
Flexibility: You can choose the investment amount and period as per your convenience.
Attractive interest rate: The interest rate of the Post Office RD scheme is attractive compared to other investment options.
Loan facility: If you need it, you can easily take a loan.
The 5-year recurring deposit scheme of the post office is a safe and profitable investment option. By investing in this scheme, you can secure your future and also get a loan if needed. If you are looking for a long-term investment, then this scheme can be a good option for you.