Post Office RD: The India Post, under the Government of India, offers various savings schemes for its customers, one of the most popular being the Post Office Recurring Deposit (RD) scheme. This scheme is especially ideal for those who wish to invest a fixed amount every month and receive a secure and good return. Let’s explore the details of this scheme.
What is the Post Office RD Scheme?
The Post Office RD is a scheme in which investors deposit a fixed amount every month, and after a certain period, they receive the deposited amount along with the interest. The minimum investment is Rs. 100 per month, making it accessible for most individuals. You can also extend the maturity period of this scheme for an additional 5 years by applying.
Interest Rate of Post Office RD
Currently, the Post Office RD offers an interest rate of 6.7% annually, which is compounded quarterly. This means the interest is added every quarter, and you will also earn interest on the accumulated interest, resulting in a better return on your investment. This interest rate is attractive for those who seek secure investment options with guaranteed returns.
How Much Can You Invest in Post Office RD?
In the Post Office RD scheme, you can start by depositing as little as Rs. 100 per month. There is no upper limit on the investment amount, meaning you can invest as much as you want. This gives you the flexibility to decide your investment amount based on your financial situation and goals.
What Will Be the Return in Post Office RD?
If you invest Rs. 4,500 per month in the Post Office RD, after 5 years, you will receive a total of Rs. 3,21,147. Of this amount, Rs. 2,70,000 will be your original investment, and Rs. 51,147 will be the interest earned. This scheme offers you a fixed return and is a great option for a safe investment with guaranteed returns.
Benefits of Post Office RD
- Safe and Government-Guaranteed: This scheme is managed by the Government of India, making it a completely safe investment.
- Flexibility: You can start with as little as Rs. 100 per month and increase your investment as per your convenience.
- Attractive Interest Rate: The interest rate of 6.7% is better compared to other options in the market.
- Easy Application Process: Applying for this scheme is very simple. You can visit any nearby post office to apply.
- Good Returns: With quarterly compounding, you receive better returns on your investment over time.
Conclusion
The Post Office RD Scheme is an excellent and safe investment option that is ideal for building a regular income. If you want to invest your small savings in a secure scheme, this scheme could be a great option for you. With its attractive interest rate, flexibility, and safe investment, it has become a favorite choice for many investors.
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