Post Office Scheme- Nowadays, everyone needs to save – whether it is for medical expenses, children’s education or retirement. Post Office RD Scheme is very useful in this. This is a government scheme in which small amounts of money have to be deposited every month. Gradually, a good fund is formed.
You can start with just Rs 100
You can open an account with just Rs 100 every month. The money is safe and the interest is also good. If you deposit Rs 10,000 every month, then after 5 years you will get Rs 7,13,659
(Rs 6 lakh your deposit and Rs 1,13,659 interest). Now the question iis, What if you need money in between?
No worries! If you have been running RD for a year, then you can take a loan of up to 50% of your deposit amount. This scheme is for everyone – working people, small shopkeepers, women, students, anyone can easily join.
The RD scheme is for 5 years. If you want, you can extend it for another 5 years. That is, a good option for long term planning. What is required to open an account? Just Aadhaar card, PAN card and a photo. Now you can open this account online as well. It is necessary to deposit money every month.
This is how you can raise 15 lakh rupees in 5 years
If you invest Rs 21,000 every month in the post office RD scheme for 5 years, then on maturity you will have deposited around Rs 15 lakh. On calculation, it was found that if you invest Rs 21,000 from your salary every month in RD, then Rs 14,98,682 will be deposited in 5 years. In this, Rs 12,60,000 will be your investment amount and Rs 2,38,682 will be the interest income.
If you apply in the post office and extend the maturity period by 5 years, then your fund will become quite big. This will give you Rs 35,87,944 on maturity. This will have an investment amount of Rs 25,20,000. At the same time, the interest income will be Rs 10,67,944.