The Post Office Recurring Deposit (RD) scheme is becoming very popular. It is a scheme where you can earn good returns over time by depositing small amounts.
If you deposit just ₹3,500 every month, you can build a large amount after 5 years (60 months). This scheme is best for people who want a safe investment and want to save for the future. Let’s explain it with full calculations.
Deposit Every Month for 60 Months
In the Post Office RD scheme, you can put a minimum of ₹100 or more every month. Suppose you put ₹3,500 every month. The scheme is for 5 years. You will pay every month for 60 months. The interest rate is 6.7%. The interest is added every three months. This makes your money grow faster.
If you put ₹3,500 every month, you will pay 60 times. The total money you put is ₹2,10,000 (₹3,500 × 60). You will get about ₹45,664 as interest in 5 years. The total money will be ₹2,55,664. This is safe because the government guarantees it.
Easy to Start
It is easy to start. Open an account at your nearest post office. You need Aadhaar, PAN, and some basic papers. You can take money out early with some rules. You can also continue the scheme after 5 years for another 5 years. This is good for small investors and middle-class people who want safe saving.