Through this scheme you can start investing with very little money. Apart from this, your money also remains completely safe. Because the post office is a government of India undertaking.
New Delhi. If you are looking for an investment tool with security and guaranteed returns, then the Post Office Recurring Deposit scheme may be a better option for you. Small office saving schemes of post offices are considered for safe and guaranteed returns and are quite popular over the years. One such scheme of post office is Post Office Recurring Deposit. In this you get better returns.
Post Office RD Scheme
Through this scheme, you can start investing with very little money. Apart from this, your money also remains completely safe. Because the post office is a government of India undertaking. You can invest in it from 100 rupees a month. There is no maximum investment limit. You can invest any amount. Post office RD deposit account is a government guaranteed scheme to deposit small installments with better interest rate.
Rate of interest
The RD account that is opened in the post office is for 5 years. Does not open for less than this. Every quarter (at the annual rate), interest is calculated on the money deposited. It is then added to your account with compound interest at the end of every quarter. According to the India Post Office website, 5.8% interest is currently being paid on RD scheme. This new rate is applicable from July 1, 2020. The central government announces interest rates for all its small savings schemes every quarter.
If you invest 10 thousand rupees, you will get more than 16 lakhs
If you invest 10 thousand rupees every month in the RD scheme of the post office, that too for 10 years, then on completion of the maturity period you will get Rs 16.28 lakh.
Some special things
If you do not deposit the RD installment in time, you will have to pay a fine. If the installment is delayed, you will have to pay a penalty of one percent every month. With this, if you do not deposit 4 consecutive installments, then your account will be closed. However, it can be activated again once the account is closed.
