You can accumulate a good amount of funds by investing a little bit every month in the Post Office RD scheme. The special thing is that by investing here you can accumulate a fund of up to Rs 17 lakh. Let’s know how.
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Post Office RD Scheme: To invest money, most people choose a scheme in which there is no fear of losing money i.e. FD or Post Office Small Saving Scheme. At the same time, some people invest in the stock market to invest money. People believe that by investing in safe investments like FD or RD, the returns are less. Even though the risk in the stock market is high, the returns are also high, but today we will tell you about such a safe scheme, in which you can earn profits of lakhs along with safe investment. Let’s know.
We are talking about the Post Office Recurring Deposit or RD scheme. In the Post Office RD scheme, you can invest a little every month and collect funds worth lakhs. The maturity period of this scheme is 5 years but you can also extend it for 5 years.
Lakhs worth funds from Post Office RD scheme
If you invest Rs 10,000 every month in the Post Office RD scheme and you do this for 5 years, then you will invest a total of Rs 6 lakh. According to the return of 6.7 percent, you will get a total interest of Rs 1.13 lakh after 5 years.
If you now extend this scheme for another 5 years, then your total investment in the next 5 years will be Rs 12 lakh. Here you will get a return of Rs 5.08 lakh at the rate of 6.7 percent. In this way, after 10 years, you will have a total of Rs 17.08 lakh.
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