Post Office RD Scheme: Everyone wants to know the easy way to build a large corpus by saving a little every day. The Post Office RD scheme does just that. You can accumulate lakhs by saving daily.
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Post Office RD Scheme: Nowadays, many people invest in a variety of avenues to grow their money. However, not every option is right for everyone. Therefore, many choose to forego most other options and invest in post office schemes.
It’s easy to build a substantial corpus by saving a small amount daily in a Post Office scheme, and best of all, your entire investment is protected. People have always had strong faith in Post Office small savings schemes.
Government guarantees and fixed interest rates make them even more robust. This is why RD schemes are once again in the news. Investing is easy, and even a small amount can build a substantial corpus over time. This is why people are increasingly turning to them.
If a person saves approximately ₹333 daily and deposits ₹10,000 monthly into an RD, they can accumulate a corpus of approximately ₹1.7 million after 10 years. This is the unique advantage of small savings that can create a substantial corpus over time.
The Post Office currently offers 6.7% annual interest on RDs. The account opening process is simple, and children over 10 years of age can also open this account. Upon reaching 18, the child can update their KYC and manage the account themselves.
A monthly deposit of ₹10,000 generates a total of ₹6 lakh over the first five years, earning approximately ₹1.13 lakh in interest. Continuing for the next five years brings the total deposit to ₹1.2 lakh, and the interest earned over the entire 10 years reaches approximately ₹5.08 lakh. Ultimately, the total maturity amount is approximately ₹17,08,546.
This scheme is also very good for investors with small funds. Even if one deposits just ₹5,000 per month, one can accumulate a corpus of approximately ₹8.54 lakh in 10 years. After one year of investing in an RD account, a loan of up to 50 percent of the deposit amount is also available, which provides relief in case of unexpected needs.
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