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Indian Post Office: If you want to earn money, investing is necessary. If you think that investing should be done only in large amounts and that is why you have not started investing yet, then this notion is wrong. Start whatever investment you can according to your income because only investment can increase your money. If you save money and keep it safe, then in some situation or the other it will be spent.
There are many schemes in the Indian Post Office in which you can start investing with less than Rs 500 and get good profits. Start with a small amount, then keep increasing the investment as your income increases. This is the way to earn money. Let us know about some such schemes of the post office in which you can start investing with less than Rs 500.
PPF
Public Provident Fund i.e. PPF is a long term scheme. In this scheme, a minimum of Rs 500 and a maximum of Rs 1.5 lakh is deposited annually and the investment is made for 15 years. If you want, you can also extend the account in blocks of 5 years after maturity. If you invest Rs 500 every month in this scheme, you will invest Rs 6,000 annually. Currently, interest is being given on PPF at the rate of 7.1 percent. In such a situation, by depositing Rs 500 every month in this scheme, you can add Rs 1,62,728 in 15 years at the rate of 7.1 percent interest. If it is extended for 5.5 years, then Rs 2,66,332 can be added in 20 years and Rs 4,12,321 in 25 years.
SSY
If you are the father of a daughter, then you can start investing in Sukanya Samriddhi Yojana in the name of your daughter. In this government scheme, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually. Currently, it is getting interest at the rate of 8.2 percent. In this scheme, you have to invest for 15 years and this scheme matures after 21 years. If you invest even Rs 500 every month in it, then you will invest a total of Rs 90,000 in 15 years and at the rate of 8.2 percent interest, you will get Rs 2,77,103 after 21 years.
Third
Post Office Recurring Deposit i.e. Post Office RD scheme is like a piggy bank in which a fixed amount has to be invested every month. This scheme helps small investors to create a fund to meet their future needs. Investment can be started from Rs 100 in it. Once you start investing, you have to invest continuously for 5 years. Currently, the interest rate in this scheme is 6.7 percent. If you invest Rs 500 every month in this scheme, then you will invest Rs 30,000 in 5 years and after 5 years you will get Rs 35,681 i.e. Rs 5,681 as interest at the rate of 6.7 percent.