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Lucknow: If you want to prepare a big fund for your future without any risk, then the Recurring Deposit (RD) scheme of the Indian Post Office can prove to be the best option for you. Away from the ups and downs of the stock market, this government scheme is giving you much better and guaranteed returns than bank FDs. At present, the government is offering an attractive interest rate of 6.7% per annum on this scheme.
‘Digital Gullak’ started with just ₹100
The biggest advantage of Post Office RD is its accessibility. Keeping in mind the middle and low income group families, this account is designed only for ₹100 per month Can be started from. There is no maximum limit on investment, so you can deposit ₹500, ₹1000 or even ₹5,000 per month as per your saving capacity.
Magic of saving ₹5,000: Returns of ₹3.56 lakh in 5 years
If you save ₹5,000 every month and invest in Post Office RD, then after 5 years (maturity period) you will have a substantial amount accumulated.
| investment details | Figures (approx.) |
|---|---|
| monthly deposit | ₹5,000 |
| Total investment in 5 years | ₹3,00,000 |
| Estimated Interest (6.7%) | ₹56,830 |
| Total amount on maturity | ₹3,56,830 |
10 year extension: Big fund of ₹8.54 lakh
If you extend this investment for another 5 years after completion of 5 years, then Compounding (compound interest) Get magical benefits. Your total maturity amount after continuously depositing ₹5,000 for 10 years ₹8,54,272 May be more than. In this, the share of net interest alone is more than ₹ 2.5 lakh.
Loan and security guarantee when needed
Post Office RD not only increases your savings but also acts as a security blanket in case of financial emergency:
Loan facility: When the account is 1 year old and 12 installments have been deposited, you can withdraw the amount of the total deposit. Loan up to 50% Can take.
Complete Security: Since this is a Post Office scheme, the Government of India has no control over it. Sovereign Guarantee it occurs. Your money is 100% safe.
Key Features at a Glance
Interest Rate: 6.7% (compounding on quarterly basis).
Account Type: Also possible in the name of single, joint or minor above 10 years of age.
Nomination: Facility to add nominee while opening the account or later.
Pre-Mature Withdrawal: Option to close the account after 3 years of opening (subject to conditions).