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Post Office Recurring Deposit Account: Big News! Rs 1600000/- by investing Rs 10000 monthly for 10 years, know RD calculation

Post Office Recurring Deposit Account: If you open Recurring Deposit account in the post office, then you will get more than 16 lakh amount in 10 years investment. Actually the bank gives you interest around 5.8%.




Post Office Recurring Deposit Account: Everyone in the country is now looking for new ways of investment. In fact, people have lost a lot in the time of Corona, if someone did not have savings before, then someone lost his job. In such a situation, now people are already investing their money in the right place and keeping it as savings. On the one hand, the interest on investment in banks is very low, so along with getting more returns in the stock market, the risk is also high. But we have come up with a good scheme for you. In this post office scheme, you can get up to 16 lakh rupees by investing 10 thousand rupees. Actually this is Post Office Recurring Deposit account, which also has government guarantee along with good interest.

Interest will be around 5.8%

Let us tell you that this post office account is similar to Fixed Deposit, but when you invest money in it, it gives more convenience than FD. Although in Fixed Deposit you have to deposit all the money at once, but in Post Office Recurring Deposit you can earn interest by investing a perfect amount every month. If you have deposited money in this account, then you will get interest around 5.8%. This interest gets added every third month by way of compounding amount. Let us tell you that this scheme of Post Office is not linked to the market, due to which there is no risk of returns in it. Your money will never sink in this, you can invest your money without worry.

Have to pay at least 100 rupees every month

The post office gives you interest in the Recurring Deposit account according to compounding. It means that the more time is there, the more benefit is received. In such a situation, if you want benefits, then try to invest in it for a longer period of time. Apart from this, you can also open an account in the Post Office by investing at least 100 rupees every month. On the other hand, if you want to deposit money for more than this, then multiply it by 10. There is no limit on the maximum amount deposited.

How did 10 thousand rupees become more than 16,00,000?

You have to invest in this scheme for 10 years. 10 thousand will have to be invested every month, that too for 10 years, that is, if you look at the calculation, then according to 10 thousand rupees every month for 10 years on Recurring Deposit, your total investment will be 12 lakh rupees. On this, you will get Rs 16,26,476 at the rate of 5.8% interest in 10 years. If you cannot deposit 10 thousand rupees every month, then even by depositing 3000 rupees every month, you can make it more than 5 lakhs in 10 years.

Opportunity to open more than one account

You can also open more than one account in the post office. That is, if you have already opened an account and are worrying about opening another account, then you can open it. But according to the conditions, the account will not be opened in the name of any family or institution. (How to open joint account in post office) In this, either the account will be open in the name of any one person or joint account will be opened in the name of two persons.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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