Almost everyone thinks of providing security for the future by saving some part of their income. He wants to invest some amount of his income into such a place where money would be safe as well as he gets bumper returns. In this regard, the RD scheme of the post office can be the best for you. You would only need to invest Rs 100 in this savings scheme. Before you know it, you’d have lakhs of rupees saved up.
Invest as low as 100 –
One of the finest schemes that the post office has to offer is RD scheme. The main characteristic of this scheme is that it can be started by investing an amount of mere Rs 100. Talking about the interest rate, this scheme provides an interest of 5.80 percent, which was introduced nearly 4 years back in 2020, by the government. Indian citizens can deposit an amount in this scheme for 1 year, 2 years, or 5 years, and there is the facility of opening multiple accounts for this.
How this interest is computed
If you will invest in this scheme of post office, then you are set to receive bumper benefits. It would be good to inform that this RD Post Office Scheme gives interest every month to its customers and transfers it to your account with a compounding rate within three months. To deposit money in this scheme, just walk into any nearest post office.
Earn lakhs
By this scheme, an Indian citizen investing every month a sum of 10 thousand rupees will receive a sum of more than 16 lakhs on investing for nearly 10 years. To put it differently, if you invest 10 thousand a month into this scheme, in just one year you will have deposited 1 lakh 20 thousand rupees. If you calculate it this way, around 12 lakhs will be yours in 10 years. Further, you will get 4,26,000 more as an interest return. In total, when you invest in this scheme for ten years, you will receive more than 16 lakh rupees.
Know much more about the advantages of this scheme
Any citizen above the age of 18 and even a minor can deposit into this scheme. Unlike many other schemes, the parents can deposit for children under this scheme. Another specialty of this scheme is that after one year of the amount deposited into the scheme, one can avail himself a loan. In this scheme, one can take a loan equalling 50 percent of the total amount deposited.
