Savings are a very important part of anyone’s life. If you have savings, then you do not need to beg in front of others at the time of need. Because when difficult times come in life, relatives and friends may not be of help to you. But if you have savings, then it can be useful. That is why different people invest money in different places so that they can save for the future. Some invest in mutual funds, some invest in the share market, and some deposit money in bank FDs. Some deposit money in government savings schemes. If you are also looking for an option for savings, then this scheme of the post office can be very useful for you. By investing in this, you can save up to 10 lakh rupees in this time.
Invest in Post Office RD Scheme
Many people invest in various savings schemes of the Post Office. If you are also looking for a way to invest, then the Post Office Recurring Deposit Scheme can be very useful for you. Currently, you are getting 6.7% interest on investment in Post Office Recurring Deposit. If you deposit 7 thousand rupees every month in this scheme.
Then you can deposit Rs 4,20,000 in 5 years. If you calculate the interest amount at the rate of 6.7% in 5 years, then it comes to Rs 79,564, i.e. a total of Rs 4,99,564. But if you extend the scheme for another five years, then you can deposit almost Rs 10 lakh.
How to open an account in the scheme?
To open an account in the Post Office Recurring Deposit Scheme, you will first have to go to your nearest post office. There you will have to submit the necessary documents which will include documents like application form, passport-size photo, address proof, and PAN card. After filling out the application form, give your application form to the post office employee along with all these documents. After this, your recurring deposit account will be opened in the post office. In which you will have to pay in instalments every month. You will have to deposit the first instalment through cash or cheque.
Disclaimer: For any financial investment anywhere on your responsibility, Times Bull will not be responsible for it.