The government itself guarantees the safety of investments in the schemes run by the Post Office and the returns are also excellent. Recurring Deposit Scheme is one of its most popular schemes.
Post Office Special Scheme: If you are planning to invest in a scheme with safe investment and strong returns, then this news is special for you. Actually, small savings schemes are being run in the post office for every age, in which the government itself guarantees the safety of the investment, while a great interest is also offered on them. One such scheme is the Post Office Recurring Deposit Scheme, in which you can start investing with just Rs 100 and can deposit a fund of 17 lakhs by saving just Rs 333 every month. Let’s understand the full calculation
6.7% great interest on investment
Under the Post Office RD scheme, the government gives 6.7 percent interest. In this, investment can be started with just Rs 100. Anyone can open an account under this scheme and even a minor of 10 years of age can open an account with the help of his parents. After completing 18 years, the minor will have to fill new KYC and fresh opening form. This account can be opened through mobile banking or e-banking facility.
Maturity period five years
If you open an account under this Government Scheme, then the maturity of your account will be completed in 5 years. The facility of extending it is also given, that is, if you want, you can continue investing by extending it for 5 more years. On the other hand, if you want to close the account before the completion of this period, then this facility is also available in this Saving Scheme. If the investor wants, he can choose the option of pre-mature closure after 3 years. On the other hand, in case of death of the account holder due to any reason, the nominee can claim it and if he wants, he can continue it further.
This rule of monthly deposit
Under the Post Office RD Scheme, the rule of monthly deposit is also different. If the account is opened before the 16th day of the calendar month, then the next deposit amount equal to the first deposit amount will be made by the 15th day of every month and if the account is opened after the 16th day and the last working day of the calendar month, then the deposit will be made between the 16th day and the last working day of every month.
You can take this much loan on investment
An account can be opened in the Recurring Deposit Scheme by going to any nearest Post Office. It is worth noting that the interest rates of the Post Office Small Saving Schemes are revised by the government every three months. One special thing about the RD Scheme is that the investor is given the facility of loan and if we talk about the rules set for this, then after the account is active for one year, up to 50 percent of the deposit amount can be taken as a loan and an interest rate of 2 percent is applicable on it.
How to raise 17 lakh rupees from 333 rupees
Now let’s talk about that calculation, under which by investing, you can deposit a fund of 17 lakh rupees by saving just 333 rupees per day. So let us tell you that by saving this amount every day, your monthly investment will be 10,000 rupees per month. Now, at the rate of 6.7%, if you invest regularly for 5 years, you will invest a total of Rs 6,00,000 and the interest on it will be Rs 1.13 lakh. If you extend it for another 5 years, then the interest amount on your total deposit of Rs 12 lakh will increase to Rs 5,08,546.
After 10 years, you will get a total of Rs 17,08,546 along with interest and principal on the investment made in this scheme. You can change the investment amount according to your convenience. For example, if instead of Rs 10,000 per month, you invest Rs 5,000 per month and extend it for 5 years, then in 10 years you will collect Rs 8,54,272, in which the income from interest alone will be Rs 2,54,272.
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