When it comes to investments, many people think they need to invest a lot of money to earn good returns. But that’s not true. The Post Office offers a popular scheme that can reduce financial worries in old age.
You can invest in the Post Office Recurring Deposit Scheme (RD), where your money stays safe and earns good returns without any risk. You can start with just ₹200 and build a fund of lakhs over time.
Start Investing with Just ₹100
The Post Office Small Savings Scheme is an excellent option for the common man, allowing you to begin with a very small amount. The Recurring Deposit Scheme is one of the most trusted and safe options. You can start investing with just ₹100 and deposit as much as you wish — there is no maximum limit.
The investment period is fixed, meaning you can choose to invest for one year, two years, or more. The Post Office pays interest every three months, helping your money grow steadily.
Anyone Can Open an Account
Anyone aged 18 years or above can open an account under this scheme. If the person is a minor, their parents can open the account in their name. A special feature of this scheme is that you can also take a loan against your deposit if needed. For this, you have to visit your nearest post office. You can get a loan of up to 50% of your total deposit, which you can repay in 12 installments. This scheme not only helps you save money safely but also provides support in times of need. With regular deposits, you can easily build a fund of lakhs of rupees.
Understand the Complete Calculation
If you invest ₹200 every day in this post office scheme, your total monthly investment will be ₹6,000. The interest rate is 6.7%. By investing ₹200 daily for two years, your total investment will be ₹1,44,000. You will earn ₹10,112 as interest, making the total amount ₹1,54,112 after two years.