Post Office RD: The Post Office Recurring Deposit (RD) scheme is an excellent choice for individuals looking to build a large fund from modest savings. By investing Rs 333 each day, which totals around Rs 10,000 monthly in this scheme, you could earn a return exceeding Rs 17 lakh in 10 years.
Secure and risk-free investment plan
This is a secure and risk-free investment plan that offers the advantage of compound interest at a rate of 6.8%. The Post Office RD plan is entirely secure. The government guarantees investment in it, rendering it a risk-free choice. You can start a recurring account in the Post Office Savings Scheme for only Rs 100 each month. It can be used either alone or together.
Duration of 5 years
This plan is set for a duration of 5 years, but it is extendable to a maximum of 10 years. At present, this plan provides a 6.8% compound interest rate, which is calculated at the conclusion of each quarter.
This way you can earn interest of 1,15,427 rupees
Make a daily deposit of 333 rupees, totaling approximately 10 thousand rupees each month. Your yearly deposit sum will be 1.20 lakh rupees. Thus, the overall deposit sum after 5 years will be 5,99,400, for which you will earn interest of 1,15,427 rupees. As a result, your overall total will be 7,14,827 rupees. If you prolong the investment for 5 years, then in 10 years your deposit will amount to 12,00,000 rupees. You will receive an interest of approximately 5,08,546 rupees on this, bringing your total amount to 17,08,546 rupees.
To find out what your total will be in 10 years, utilize the Post Office RD Calculator. You can perform precise calculations by inputting your monthly deposit, investment duration, and interest rate.