If you want to invest your money somewhere and do not want to take any risk, then post office is the right option for you. Post Office Recurring Deposit Scheme is such a scheme, in which your money is safe when you invest and at the same time your returns are also good.
The biggest feature of this scheme is that the risk is negligible and the returns are also good. Let us know about the Recurring Deposit Scheme.
How much to invest in Post Office Recurring Deposit Scheme (How Much To Invest In Post Office Recurring Deposit Scheme)
Post Office Recurring Deposit Scheme is a guaranteed scheme. You can start investing in this scheme with a small amount of just Rs 100. Also, there is no maximum investment amount, you can invest as much money as you want.
For your information, let us tell you that in this scheme of post office, the account can be opened for five years. In which the bank offers the facility of recurring deposit accounts for six months, 1 year, 2 years, 3 years. Interest on the deposited money is calculated every quarter and is added to your account at the end of every quarter.
Know how much interest you will get in Recurring Deposit SchemeKnow How Much Interest You Will Get In Recurring Deposit Scheme)
At present, interest of 5.8 percent is available in the Post Office Recurring Deposit Scheme. This new interest rate has been implemented from April 1, 2020.
Eligibility for Post Office Recurring Deposit Scheme (Eligibility For Post Office Recurring Deposit Scheme)
Applicant must be an Indian citizen and must be above 18 years of age.
On investing Rs 10000, you will get a return of Rs 16 lakh (Investing Rs 10000 Will Give A Return Of Rs 16 Lakh)
If you invest Rs 10,000 every month in the Post Office RD scheme for 10 years, then after 10 years you will get more than Rs 16 lakh at the rate of 5.8%.
news credit: Krishi Jagran
