Recurring Deposit guarantees the security of your money. You can open a recurring deposit account in any bank or post office. .
Every man tries to give every happiness to his family and can collect some money for his future, but due to the daily expenses and other responsibilities of the family, even a common man would not be able to raise a fat fund. But if you work a little bit and start saving small amount by doing it, then soon it will become a big fund for you.
Here we have not come to tell any government scheme or any scheme. All you have to do is to choose such an amount that you can easily deduct your expenses and deposit it every month, then see how you get a big fund.
Recurring deposit is an easy way
Even today a recurring deposit is a boon for the general public to collect big funds by depositing small amounts. Because there is no major investment in it, just discipline is required. If you invest money in a recurring deposit by being disciplined and having a target, then it is definitely a profitable deal. And at the same time, there is no need to prepare a separate strategy for this.
This is how you can get the amount of 1.07 lakh
If you assume that you have opened a recording deposit account. Which has an interest rate of 8 percent. You have opened this account for 5 years. In this, you have planned to deposit Rs 1450 monthly. So after 5 years, your deposit will be Rs 1,0,100 in full. Just keep in mind that you invest regularly in it. Also, there is a complete guarantee of the safety of your money in it. You can open a recurring deposit account in any bank or post office.
Benefits of recurring deposit
– Better way to get lump sum by depositing less money
– Interest on principal amount is added to the principal
– You can deposit a fixed amount made on your behalf every month.
– Every month it helps to save some amount. Recording deposit
– Get full returns without any risk
– You can invest from 6 months to 10 years.
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