Everyone likes to invest in post office schemes. Here, you can build a strong fund in a short time, even with a small investment. Yes, by saving just Rs 50 daily, you can accumulate a good amount in just 5 years. Let’s understand the complete maturity calculation.
Post office savings schemes are backed by the government, making them completely safe for investment. This is why many people prefer to invest in post office schemes. By investing a small amount daily in a post office scheme, you can build a large fund over time. Even with a small investment, you can create a strong financial base.
1. Build a Big Fund by Saving Rs 50 Daily
By saving just Rs 50 per day, you can accumulate up to Rs 1,07,050 in 5 years. This small daily habit can help you grow your savings significantly.
2. Good Returns on Rs 1,500 Monthly Investment
If you invest Rs 1,500 per month in a post office scheme, you will deposit a total of Rs 90,000 in 5 years. Additionally, you will earn about Rs 17,050 in interest.
3. Double the Fund by Saving Rs 100 Daily
If you save Rs 100 per day instead of Rs 50, your savings will double. In 5 years, you can build a fund of Rs 2,14,097.
4. High-Interest Rate Benefit
The Post Office Recurring Deposit (RD) scheme offers an annual interest rate of around 6.7%, which is higher than many fixed deposits and other savings options.
5. Loan Facility Available
After depositing at least 12 instalments in the Post Office RD scheme, you can avail of a loan of up to 50% of your deposited amount.
6. Long-Term Investment Option
The tenure of the Post Office RD scheme is 5 years, but you can extend it for another 5 years if needed.
7. Premature Closure Option
If required, you can close your RD account after 3 years. However, in such cases, the interest rate will be applicable as per the post office savings account.
8. Tax Benefits
Investing in this scheme also offers tax benefits. You can claim tax exemption under Section 80C of the Income Tax Act.
9. Encourages Regular Savings
This scheme helps develop a habit of saving regularly and promotes financial discipline.
10. Easy Account Opening Process
Opening an RD account in the post office is simple. You only need your Aadhaar card, PAN card, and a minimum deposit amount to start investing.