The Post Office Recurring Deposit (RD) Scheme is a very popular savings plan for Post Office customers. With this scheme, you can save a small amount every month according to your ability and get a large amount of money later.
A new addition to this scheme is the Post Office Piggy Bank Scheme. By saving just ₹100, you can get a guaranteed return of ₹2.5 lakh.
Here, you can learn about the benefits of the Post Office RD Scheme, the interest rate, how to invest, the documents needed, and how much money you can invest, all in detail.
Post Office RD Scheme Interest Rate
Saving money and financial security are very important today. The Post Office Recurring Deposit (RD) Scheme is a government savings plan. It gives good returns with small money. You can start with just ₹100 per month. It is safe because the government guarantees your money.
What is Post Office RD Scheme?
The Post Office RD Scheme runs for 5 years. You put a fixed amount every month. It works like a piggy bank. Small savings grow into a big amount. The scheme gives 6.7% interest per year. Interest is added to your money every year. You can invest any amount you can afford.
Who Can Invest?
Anyone can invest, even people with low income. The minimum is ₹100 per month. You can open a single or joint account. Parents can open accounts for their children. There is no maximum limit. Both small and big investors can use this scheme.
How to Get ₹2.5 Lakh by Saving ₹100 Daily?
If you save ₹100 every day, that is ₹3,000 per month. In 5 years, you will save ₹1,80,000 (3,000 × 60 months). At 6.7% interest, you will get about ₹34,097 extra. Total money after 5 years will be ₹2,14,097. If you keep it for 2 more years, it can reach ₹2.5 lakh. More saving means more returns.
Benefits of Post Office RD Scheme
- Safe investment, guaranteed by the government
- Start with small money, easy for everyone
- Money grows fast because of interest
- Loan can be taken before maturity
- Helps to save regularly
