At present, there are many people who are investing in various schemes of the Post Office, thinking about the future. Today’s article will discuss one such scheme where investing will double your money back. Someone invests in mutual funds. So someone invests money in the stock market; someone deposits money in the bank’s FD. Someone deposits money in a government savings scheme. If you are also looking for an option regarding savings, So this post office scheme can be of great use to you. By investing in it, you can deposit up to Rs 10 lakh at this time.
Invest in Post Office RD Scheme
Many people invest in many post office savings. If you are also looking for a way to invest. Then the post office’s recurring deposit scheme can be very useful for you. You are currently getting interest at 6.7% percent on investment in post office recurring deposits. If you deposit 7 thousand rupees every month in this scheme.
Then you can deposit Rs 4,20,000 in 5 years. At the same time, if the amount of interest is calculated at the interest rate of 6.7% in 5 years, then it is Rs 79,564, i.e., a total of Rs 4,99,564. But at the same time, you extend the scheme for five years. Then you can deposit close to 10 lakh rupees.
How do I open an account in the RD scheme?
To open an account in the post office’s recurring deposit scheme, you must first go to your nearest post office. There you will have the necessary documents, including documents like the application form, passport-size photo, address proof, and PAN card. After filling out the application form, you give your form to the post office employee with all these documents. After this, your recurring deposit account will be opened in the post office. In which you will have to give this installments every month. You have to deposit the first installment through cash or check.
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