Post Office Recurring Deposit Scheme: Many small savings schemes are being operated by the post office for safe investment. All these schemes are becoming popular among the people. These schemes also include Post Office RD Scheme which is providing strong benefits to the people. The reason for this is also that the interest rates were increased by the government in the financial year.
Let us tell you that if you invest in this scheme for 5 years, then you will get strong interest. At present, investors are being given interest at the rate of 6.7 percent in this scheme. Earlier, interest was being given at the rate of 6.5 percent. According to this, if you invest for only 10 months, then you can create a fund of Rs 8 lakh. A lot of benefits are given in this scheme.
Benefits available in Post Office Recurring Deposit
To open an account in this cool scheme of Post Office, one has to contact the nearest post office. You can start investing in this account with just Rs 100. Post Office RD scheme matures in just 5 years. If you want pre-maturity, you will also get the benefit of that. In this scheme, pre-mature closure is available after 3 years. Along with this, you can also take a loan. After keeping the account open for 1 year, 50 percent of the money can be taken as a loan. In which only 2 percent interest is charged.
This much money is received on maturity
If we calculate in Post Office RD scheme, then if you invest 5 thousand rupees monthly in it, then if you deposit a total of 3 lakh rupees in its maturity in 5 years, then according to the interest rate of 6.7 percent, you get 56,830 rupees. This simply means that you will be able to get Rs 3,56,830 in 5 years. On the other hand, if you extend the account for 5 years, then you will get 6 lakh rupees in 10 years. In this, you will get Rs 2,54,272 as interest. According to this, you will get a total of Rs 8,54,272 in 10 years.