Friends, today we will talk about a scheme of the post office which works to keep your money safe as well as increase it. Yes, we are talking about the Recurring Deposit (RD) scheme.
Post Office RD: What is this scheme?
This scheme is perfect for those who want to save some money every month and accumulate a good amount. For example, if you deposit ₹ 15,000 every month, then in 5 years you will have ₹ 9 lakhs deposited. What’s more, the post office will also give you 6.7% interest on it, which will increase your earnings further. That is, after 5 years you will get ₹ 10,70,492, out of which ₹ 1,70,492 will be only interest!
What are the benefits of this scheme?
Security: The biggest thing is, this is a government scheme, so your money will be absolutely safe.
Good interest: 6.7% interest, which is hard to find even in banks these days.
Flexibility: You can open an account for 1, 2, 3 or 5 years.
Low investment: You can start with just ₹100.
No upper limit: You can invest as much as you want.
How to open an account?
All you need to do is visit your nearest post office and submit some important documents, such as identity card, address proof and photo.
Some important points:
The interest rate may change from time to time, so make sure to get the latest information before investing.
You can deposit only a fixed amount in your account every month.
If you close the account prematurely, some terms and conditions and penalties may apply.
Do you have any questions in your mind?
Can I deposit more money in my account?
No, in this scheme you have to deposit only a fixed amount every month.
What is required to open an account?
You will need an identity card, address proof, passport size photo and PAN card.
Can I close the account prematurely?
Yes, but certain conditions and penalties may apply if you do so.
So friends, if you are looking for a safe and reliable investment option, then Post Office RD scheme is perfect for you.