Currently, the stock market environment is changing a lot, due to which investors are especially interested in investing. Among these, the first choice of every person for investment is sure and secure money.
A very good project especially for the lower middle class or middle class or employees. The recurring scheme of the post office is very important. This scheme can be even better. This project is supported by the central government or the government of India, where you can invest without fear. The savings scheme of the post office also has a great impact on the education of children, buying a house.
A fund of 14 lakh rupees is created in five years. No large amount of money is required to start a post office recurring deposit. You can start this fixed deposit with small amounts of money such as 100 rupees. Later, the monthly installment can be increased according to your ability.
This is why the Post Office Recurring Scheme is a great investment tool for both small and large investments.
The Post Office Recurring Scheme offers an annual interest rate of approximately 6.7 percent. This provides a quarterly compound interest rate. It provides a special amount of momentum to the investment over time.
How to get 14 lakhs?
For example, if you invest 20,000 rupees per month in recurring, the total value after five years is 12,00,000 rupees.
Above this, if the interest rate of 6.7 percent starts increasing at a compound rate, it will reach 14,28,727 rupees. That is, you will get 14 lakhs from general and regular savings, you will get a total return of 2,28,727 rupees in this fund. Symbolic image.
Disclaimer: The above is for informational purposes only, Timesbull.com does not provide investment advice, please take advice from a financial expert before making any decision.