In today’s time, everyone wants to save some part of their earnings for the future. If you are also looking for a safe and profitable investment option, then the RD (Recurring Deposit) scheme of the post office can be a great option for you. Not only letters, but many services like banking and insurance are also available in the post office.
In the RD scheme of the post office, you get the guarantee of complete safety of your money along with excellent returns. Let us know in detail in this article what the RD scheme of the post office is and how much fund will be ready in 5 years by depositing ₹ 2200 every month in it.
6.7% annual interest is being given on the post office RD scheme
A fixed amount is deposited every month in the RD (Recurring Deposit) scheme. The post office is currently giving an annual interest of 6.7% to the customers on its RD scheme. In this scheme, you can open an account with a minimum monthly investment of just ₹ 100, while there is no maximum limit on investment in it. That is, you can deposit as much money as you want in this account. This account can be opened by any person above the age of 10 years, in which a single account as well as a joint account can be opened.
Maturity of Post Office RD Scheme and Funds Received
The RD account of the post office matures in 60 months, i.e., 5 years. However, it can also be closed after 3 years from the date of opening the account. If you deposit ₹ 2200 every month in the post office RD account, then after 60 months, i.e., on maturity, you will get a total of ₹ 1,57,004. This amount will include interest of ₹ 25,004 in addition to the ₹ 1,32,000 deposited by you. Since the post office comes under the Central Government, all your money is safe in it.
By taking advantage of this scheme, you can create a strong financial base to fulfill your small goals. It keeps your money safe as well as gives a good return.