If you are one of those people who do not like to take any kind of risk in terms of investment, then all the schemes of the Post Office can prove to be very useful for you. Today we are going to tell you about one such great scheme of Post Office – Post Office Recurring Deposit i.e. Post Office RD. In this scheme, you can start investing with just ₹ 100 and there is no maximum limit to investment in it. Currently, this scheme is getting interest at the rate of 6.7%. In such a situation, if you deposit a small amount in it every month, then a good fund will be easily created. So let’s know about this safe and beneficial scheme in detail.

How much will you get on investing ₹2,000

If you start an RD of ₹2,000 per month for 5 years, you will invest ₹24,000 in a year and a total of ₹1,20,000 in 5 years. According to the current interest rate i.e. 6.7%, you will get ₹22,732 as interest. In this way, after 5 years you will get a total of ₹1,42,732 by combining your invested amount and interest. This is a great option for those who want to get good returns in a fixed period through small savings.

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What will happen on investing ₹3,000

If you want to start an RD of ₹3,000 per month, you will invest ₹36,000 in a year and a total of ₹1,80,000 in 5 years. According to the Post Office RD calculator, at a 6.7% interest rate, you will get ₹34,097 as interest and a total of ₹2,14,097 on maturity. This is even more beneficial for those who can save a little more and want to achieve their financial goals faster.

Investing ₹5,000 will open the doors to prosperity

If you start an RD of ₹5,000 every month, you will invest a total of ₹3,00,000 in 5 years. At a 6.7% interest rate, you will receive ₹56,830 as interest. Thus, on maturity, you will get ₹3,56,830. This is a great option for those who want to accumulate a significant amount in the medium term by saving in a disciplined manner.

Review of interest rates every three months

Post Office RD Scheme
Post Office RD Scheme

The Finance Ministry of the Central Government reviews the interest in small savings schemes every three months. On October 1, 2023, the government increased the interest rate of Post Office RD from 6.5 percent to 6.7 percent. There has been no change in it since then. This regular review helps investors to stay updated about the returns on their savings.

No effect of change in interest rates after investment

You will be happy to know that at the interest rate at which you have started RD, you will continue to get interest at the same rate for 5 years. Even if there is a change in the interest rates of RD in between, there will be no effect on your investment. This is a big relief for investors, as they can continue their savings plan with certainty, without worrying about fluctuations in interest rates.

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