If you’re looking for a good post office scheme, then this article is for you. Today we are going to tell you about a very great post office scheme. The name of this post office scheme is Recurring Deposit Scheme (RD Scheme). You get many great benefits by investing in this scheme. The most important thing is that your money invested in this scheme is completely safe. You will not face the dangers of any kind of market risk by investing in it. You do not have to invest lump sum money in the post office’s recurring deposit scheme. In this scheme, you have to invest a fixed amount every month, and you get returns on it. If you invest in RD by saving only Rs 100 daily, you can accumulate a fund of millions.
Post Office Recurring Deposit (RD)
If you save Rs 100 daily, you will save Rs 3000 throughout the month. You have to invest this money in the post office RD every month for the entire 5 years. Investing Rs 3000 in RD every month will make you invest Rs 36,000 in RD in a year. For 5 years, you will invest Rs 1,80,000 in RD. In RD, you will get interest at the rate of 6.7 percent. In this case, after 5 years, you will get the full Rs 2,14,097, of which Rs 34,000 will be only for interest.
RD interest rate
Investing in the Post Office Recurring Deposit Scheme is currently getting an interest rate of 6.7 percent. You can invest in the post office RD scheme for 5 years. However, you can extend this scheme for five years. You can invest a minimum of Rs 100 in this post office scheme. At the same time, the limit of the maximum investment amount has not been fixed. In this scheme, you get the benefit of compound interest.
Premature closure of RD will cause damage
If you close the RD before it matures, you will get interest on the interest rate of the post office savings account. At present, the interest rate of a postoffice savings account is only 4 percent.