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Post Office RD Scheme: If you want to save money by making small savings and do not want any kind of risk on your investment, then Post Office Recurring Deposit i.e. Post Office RD can prove to be a good scheme for you. Although you will get the option of RD of different periods in the bank too, but the post office RD is for 5 years. In such a situation, there is a scope to save a lot by depositing a fixed amount every month for 5 years. At present, 6.7 percent interest is being given on Post Office RD (Post Office Recurring Deposit Interest Rates). In such a situation, know here that if you deposit ₹ 2000, ₹ 3000 and ₹ 5000 every month in this scheme, then how much profit will you get according to the current interest rate.
On investing Rs 5,000
If you start an RD of Rs 5,000 every month, you will invest a total of Rs 3,00,000 in 5 years. According to the Post Office RD calculator, you will get Rs 56,830 as interest at the rate of 6.7 percent. In this way, you will get Rs 3,56,830 on maturity.
On investing Rs 3,000
If you want to start an RD of Rs 3,000 per month, then you will have to invest Rs 36,000 in a year and a total of Rs 1,80,000 in 5 years. According to the Post Office RD calculator, as per the new interest rates, you will get Rs 34,097 as interest and a total of Rs 2,14,097 on maturity.
On investing Rs 2,000
If you are going to start an RD of Rs 2,000 per month for 5 years, then you will invest Rs 24,000 in one year and Rs 1,20,000 in 5 years. In this case, you will get Rs 22,732 as interest with the new interest rate i.e. 6.7% interest. In this case, after 5 years, you will get a total of Rs 1,42,732 by combining your invested amount and the interest amount.
Interest rates are reviewed every three months
The Finance Ministry of the Central Government reviews the interest rate on small savings schemes every three months. On October 1, 2023, the government increased the interest rate of Post Office RD from 6.5 percent to 6.7 percent. No change has been made in it since then. Let us tell you that whatever interest rate you start RD with, you get interest according to that in 5 years. Even if there is a change in the interest rate of RD in between, it will not affect your investment.