Post Office RD: Every penny matters. So, people often take a step backward from any kind of investment related to market risk. In this article, we are going to tell you about a scheme where you will get a guaranteed return with no risk factor.
Investing in Post Office Recurring Deposit Scheme is currently getting an interest rate of 6.7 percent. You can invest in the post office RD scheme for 5 years. However, you can extend this scheme for five more years.
No risk, completely safe
You can invest a minimum of Rs 100 in this post office scheme. At the same time, the limit of the maximum investment amount has not been fixed. In this scheme, you get the benefit of compounding interest. The most important thing is that your money invested in this scheme is completely safe. You will not face the dangers of any kind of market risks by investing in it. You do not have to invest lump sum money in the post office’s recurring deposit scheme.
How much will you get by spending Rs. 7,000 every month?
In this scheme, you have to invest a fixed amount every month, you get returns on it. If you invest Rs 7000 every month in this scheme, then you will invest a total of Rs 4,20,000 in post office RD in 5 years. In this, you will be given interest at 6.7 percent. In such a situation, according to calculations, you will get 79,564 only as interest in 5 years. In this case, adding your invested amount and interest, your maturity amount will get a total of Rs 4,99,564 i.e. about Rs 5 lakh.
After this, if you extend the RD scheme for five more years. In this situation, you can collect a fund of about 12 lakh rupees. In this post office scheme, you can open a joint account of three people in addition to a single account.