Many people do not want to take risks. They do not expect high returns. Rather, their goal is to keep money safe. Although the good news is that there are some schemes in the Indian Post Office in which the risk is very low. But the returns are high. And today we are going to tell you about one such post office scheme. In this scheme, you can get 5 lakh rupees from interest alone.

What scheme is this?

There are many schemes in the post office. And there are various schemes for all ages. This scheme is also like that. Here, by saving a little money every day, you can get good returns. Are you wondering which scheme I am talking about? Then listen, we are talking about the Post Office Recurring Scheme. Through this scheme, you can get a good amount of money as interest only. Along with that, you will also get the original deposit back.

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How much is the interest?

In this scheme of the post office, you will get an interest rate of 6.7 percent. In this case, you have to open a bank account with just 100 rupees. Then you have to deposit money.

It will take 5 years for this scheme to mature. After this period, you can withdraw the deposited money. You will get interest along with it.

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You will get a loan at 2 percent interest

There are multiple benefits of depositing money in this scheme. And one such good aspect is the facility of taking a loan. After depositing money in this scheme for 1 year, you can ask for a 50 percent loan from the post office as a loan. And in that case, the interest you will have to pay is very low. You will get a loan at only 2 percent interest.

Also, if you want, you can stop keeping money in this scheme before maturity. There you will get some premature benefits. However, this benefit will be available only after keeping the money for 3 years.

How much money will you get in interest?

If you want, you can easily get interest up to Rs 5 lakh from this scheme. In that case, you will have to deposit only Rs 333 per day. As a result, you will accumulate Rs 10,000 per month. After 5 years, your total deposit amount will be Rs 600,000. And you will get interest at Rs 113,659. As a result, you will accumulate Rs 713,659. However, you will have to continue this scheme for another 5 years. Then the total deposit amount will be Rs 12 lakh. And you will get Rs 508546 in interest.

Disclaimer: Do not buy or invest in stocks after reading this article. It is written for informational and educational purposes. Before taking any decision, seek expert advice. Also, do your own research. Then invest in stocks.

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Avijit

A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.

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