Post Office Recurring Deposit Account: Even today, the middle class in the country wants to put its money in such a scheme in which there is little or no risk investment and the returns are also better and more. That’s why even today a large number of people trust the post office scheme a lot. In such a situation, the post office keeps on coming up with many different schemes from time to time. These schemes are isolated from market risks and give good returns in future.
One such scheme of the post office is the Post Office Recurring Deposit Account. You can deposit a fund of Rs 16 lakh in the next 10 years by investing only Rs 10,000 every month in the Post Office RD Scheme.
In this way you can add 16 lakh rupees in 10 years
The post office is giving 5.8 percent interest on its RD here. This interest is paid on a compounding quarterly basis. In such a situation, if you deposit Rs 10,000 every month, then after 5 years, you will get Rs 6.96 lakh at near maturity including interest. In this, 97 thousand rupees will be of interest only. On the other hand, if you increase the RD for further 5 years, then you will get Rs 16.26 lakh on maturity. In this, you will get about 4.26 lakh rupees only for interest. Let us tell you that in the post office, you can open RD for 5 years, which you can later change in 10.
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Rules for opening RD in post office
You can also run RD in the post office for only Rs 100. The special thing is that a person can open any number of accounts, just you have to deposit the money in multiples of 10-10 rupees. You can also open a joint account of three people. While this RD (Recurring Deposit) is opened for 5 years, but you can also take Premature Closure after 3 years. A minor can also open an account, along with this, after 12 installments, you can also get a loan on it.
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