Nowadays there are many platforms for investment in India, but not all are reliable. That is why most people prefer to invest in government schemes. The government is also running many great schemes, in which you can get good returns by investing. Post office schemes have always been the first choice of people, because they are safe and also give good interest. Post Office Recurring Deposit (RD) Scheme is also one such scheme, which can be best for you.
If you are also thinking of investing in the post office and are looking for a scheme in which you get a big fund on maturity by depositing a small amount every month, then Post Office Recurring Deposit (RD) Scheme is for you. This scheme is specially designed for those people who want to invest a little every month instead of depositing a lot of money at once.
Post Office RD Scheme is a small savings scheme, which is run by the government. Therefore, your money is absolutely safe in it. In this scheme, you can invest every month for 5 years and get good returns on maturity.
What is Post Office RD Scheme?
Post Office Recurring Deposit Scheme is a government small savings scheme. It is for those people who want to save a part of their earnings every month and invest it and want to earn good profits. You can invest in this RD scheme for 5 years. If you want, you can also extend it for 3 more years after maturity.
How to open RD account in post office?
It is very easy to open an account in Post Office Recurring Deposit Scheme. For this, you have to go to your nearest post office. From there you have to take the form to open RD account. Fill all the information asked in the form and submit it in the post office along with the necessary documents. You can open an account with a minimum of ₹100 and you can deposit as much as you want.
Get strong interest by depositing just ₹150 daily
The Post Office Recurring Deposit Scheme is a safe investment destination for customers. You can trust it blindly. The government is currently giving you 6.7% annual interest on investing in this scheme. Any citizen of India can open an account in the Post Office RD Scheme and start investing.
Understand the calculation of recurring deposit with an example
Suppose, you deposited ₹4,500 every month for 5 years in the Post Office Recurring Deposit Scheme. So, you will invest ₹54,000 in a year. And you will invest a total of ₹2,70,000 in 5 years. You will get 6.7% interest on this deposit amount. According to this, you will get around ₹51,147 in 5 years as interest only, and on maturity you will get a total return of ₹3,21,147.
