Post Office: Among the present services provided by the post office is the Small Savings Scheme, which includes a distinctive choice called the Recurring Deposit. With this plan, you can put in only Rs. 5000 every month and possibly gather more than Rs. 8 lakhs upon maturity, due to appealing interest rates. Furthermore, this investment enables you to obtain a loan when you require financial assistance.
Post Office Recurring Deposit
In 2023, an important choice was enacted to increase the interest rate for the Post Office Recurring Deposit Scheme, leading to considerable benefits for many investors from this adjustment. The existing interest rate for the Post Office KIMS is 6.7 percent.
By enrolling in this exclusive RD deposit program, a monthly contribution of Rs. 5000 can result in a total of as much as Rs. 8 hundred thousand. The Post Office assures a maturity sum of approximately Rs. 3 lakhs, which means you could make an additional Rs. 3 lakhs via this program.
Invest Rs 5000 get 8 lakh
Investing amounting to Rs. 5000 monthly deposit can generate an interest rate of as much as 6.7%. This amounts to more than Rs. 56 thousand in yearly interest. If you continue this monthly payment for only five years, you might get as much as Rs. 8 lakhs, comprising interest.
Will get extra benefits
Additionally, the post office’s recurring deposit scheme offers a loan option, enabling you to borrow as much as 50% of your deposited funds. You can additionally choose to take out your investment after only three years. There are many extra advantages offered to individuals who decide to invest in this program.
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