Post Office RD Scheme: People often like to save money. Man does not miss any opportunity to save his money. He always wants to double his money. That is why he keeps investing in many schemes.
But there are also cheap schemes in which there is a risk of loss. In such a situation, he is not able to trust any scheme. A great scheme of post office removes these problems.
The name of this scheme is Post Office Recurring Deposit, under which your money grows as well as remains safe. In this scheme, you get guaranteed returns, that too with interest. In this scheme, you can start with a small amount.
Why is this RD scheme special
People all over India are using the RD scheme run by the post office and have their trust in it. This scheme is considered very beneficial for the common people because you can invest any minimum amount in this scheme.
This scheme works without any risk and gives you guaranteed returns on completion of time. In this scheme, you must invest every month.
If for some reason you do not pay for any month, then you may have to pay a fine of 1%. If you do not invest in this scheme for 4 consecutive months, then this scheme will be closed automatically.
How much is the minimum charge to be paid
If you want to open an account under the RD scheme of the post office, then you have to pay only a small amount. For this scheme, you can start this scheme by paying a minimum of 100 rupees.
With this excellent scheme, you get a tremendous compound interest of 6.8% every year, which keeps your money growing. The duration of this scheme is 5 years and if you want, you can continue further even after the maturity of this scheme.
You will get 17 lakh rupees by investing 333 rupees
If you open the RD scheme of the post office and you want to get a return of lakhs of rupees, then you will have to plan your finances. If you invest Rs 333 every day under this scheme, you can earn Rs 10,000 every month. Similarly, you can invest Rs 1.20 lakh annually in the RD scheme of the post office.
When your RD scheme matures after 5 years, the total amount invested by you will be Rs 599400, on which you will get interest at the rate of 6.8% fixed by the government, which amounts to Rs 115427. Now the amount you will get after 5 years becomes Rs 714827.
If you extend your RD scheme from 5 years to 10 years, then the total amount invested by you will become Rs 12,00,000. On this amount, you get a total of Rs 5,08,546 as interest at the rate of 6.8%. The amount you get after the maturity of 10 years becomes Rs 17,08,546. It is considered a large amount.