Post office scheme : Are you looking for a scheme with good returns without any risk? In this scheme of Post Office, you can get a return of Rs 8 lakh without any risk. Recently, the Central Government has increased the interest rates of small savings schemes. The interest rates of Post Office Recurring Deposit have increased by 30 basis points. The Central Government has increased the interest rate from the earlier 6.2 percent to 6.5 percent. This interest rate is applicable for the period July-September 2023. This scheme is beneficial for those who want to save a fixed amount every month for ten years. This scheme of Post Office has low risk and high returns. This interest rate is applicable for the period July-September 2023. This scheme is beneficial for those who want to save a fixed amount every month for ten years. This scheme of Post Office has low risk and high returns.
Post Office Recurring Deposit Scheme is available in every post office. Any person above 18 years of age can invest in this scheme. Three people can also open a joint account together. Parents can open this scheme in the name of minors. You can start investing in this scheme with a minimum of Rs 100. First of all, recurring deposit is opened for 5 years. After this it can be extended for the next 5 years.
Currently 6.5 percent interest is being given in the post office recurring deposit but this interest is applicable only for the July-September period. The central government revises the interest rates once every three months. Therefore, the interest rates of savings schemes can increase, decrease or remain stable.
Saving Rs 5,000 every month for 10 years in the post office recurring deposit account will give a return of Rs 8.46 lakh as per the current 6.5 percent interest rate. If the amount deposited in 10 years is Rs 6 lakh, then the interest will be Rs 2.46 lakh. If the government increases the interest rate, the returns will be higher and if the interest rate is reduced, the returns will be less.
The Post Office recurring deposit account can be closed after three years of opening. A 50 percent loan can also be taken after one year of opening the account. Many savings schemes of the Central Government are available in the post office. This includes many schemes like Sukanya Samriddhi Yojana, Kisan Vikas Patra, PPF, recurring deposit.
