In today’s time, India Post has emerged as a great option for investment, and this is because the Indian Post Office offers many great investment options according to the needs of different investors. Post Office Saving Schemes give guaranteed returns, because the Central Government itself guarantees them. That is, both your money and the interest received on it are completely safe. If you want to create a big fund with low risk, then the Post Office Recurring Deposit (RD) scheme can prove to be icing on the cake for you.
Attractive interest and unmatched security
Currently, an attractive interest rate of 6.7 percent is being given in the Post Office RD scheme. This rate is also higher than the FD of many big banks. In this scheme, the investor has to deposit a fixed amount every month. On maturity, he gets a large amount with interest. The specialty of this scheme is that it is completely safe, along with attractive interest rates, because it is a government scheme. You can prepare a big fund for the future by depositing your small savings in it.
Take special care of these things, otherwise you will suffer a loss
As an investor, you have to take special care of some things so that you get the full benefit of your RD. First of all, remember that you do not have to break your RD before maturity. If you break it before five years, you may have to suffer a big loss. If you close it prematurely, then instead of 6.7%, you will get only the interest equal to the post office savings account, which is only 4%. That is, you may have to suffer a loss of 2.7 percent. Therefore, let your RD be completed; only then will you get the most benefit.
A ₹6000 monthly deposit can create a fund of ₹10 lakh in 10 years
If you and your wife together deposit ₹6000 every month in an RD scheme, you can easily create a fund of more than ₹10 lakh in the next 10 years. You can open this account as a single or a joint account. This is an excellent option for those who want to save for big goals like children’s education, marriage, or buying a house