Great news for the everyday citizens of India! If you’ve been on the lookout for a solid investment opportunity, we have some exciting information for you. India Post has introduced a scheme that promises good returns on your investment. Today, we’re focusing on the post office Recurring Deposit (RD) scheme, which can yield you lakhs of rupees after a few years. Stay tuned for more details in today’s report.
The Post Office RD Scheme is a secure and trustworthy choice for investors, particularly for those looking to increase their savings with minimal risk. These post office schemes not only provide a guarantee for investors but also deliver greater stability compared to high-return, yet riskier alternatives like mutual funds.
India Post provides a 5-year RD account for its customers, offering an attractive interest rate of 6.7 percent per annum, compounded quarterly. You can start with a minimum deposit of just Rs 100 each month, and there’s no upper limit on how much you can invest.
For instance, if you aim to accumulate Rs 20 lakh in 5 years, how much should you invest monthly in the post office RD? By contributing Rs 28,100 each month to the 5-year RD scheme, you would receive Rs 20,05,382 upon maturity. This means that with a total investment of Rs 16,86,000, you would earn an additional interest of Rs 3,19,382.
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