Do you want to create a big fund by saving a little every month? Then the Post Office RD scheme is the best for you! This scheme is for people of all classes, and you can start investing in it from ₹ 100.
What is Post Office RD Scheme?
This is a recurring deposit (RD) scheme, in which you deposit a fixed amount every month, and after 5 years you get back the deposited amount with interest. This scheme is very good for those who want to save regularly, but cannot invest a large amount at once.
Benefits of Post Office RD Scheme
Safe investment: Your deposited amount is completely safe, as it is backed by the government.
Good interest rate: You get interest at the rate of 6.70%, which is quite good compared to other savings schemes.
Start with a small amount: You can start investing with just ₹100, which is possible for everyone.
No maximum investment limit: You can invest as much as you want according to your capacity.
You can extend the period: After a period of 5 years, you can extend it further if you want.
How to invest
You can open an RD account by going to any post office. For this, you will have to provide proof of your identity and address.
Example
If you deposit ₹2000 every month, then after 5 years you will get ₹1,20,000. At the rate of 6.70% interest on this, you will get a return of ₹42,593. That is, in total you will get ₹1,62,593.
Keep in mind
You can invest in this scheme only for 5 years.
If you withdraw money before 5 years, you will get a lower interest rate.
So what are you waiting for?
Open an RD account in the post office today and give a new direction to your savings.
Any questions?
What is the minimum investment amount?
₹100
What is the interest rate?
6.70%
Is the tenure extendable?
Yes, after 5 years you can extend it further.
This article is for information only. Before investing please contact the post office and read all the terms and conditions carefully.