Post Office RD Scheme: Start with Just ₹100/Month, Earn 6.7% Interest! Full Details Inside

If you want to get good returns by saving regularly, then the Post Office Recurring Deposit (RD) Scheme can be a great option for you. This scheme helps in converting small savings into big funds. Let’s learn about this scheme in detail.

Key Features:

Attractive interest rate: The Post Office RD scheme offers 6.7% annual interest, which is better than most banks.

Small start: You can start your investment with just ₹ 100 per month.

No maximum limit on investment: you can deposit as much money as you want.

Loan facility: After 12 months, you can take a loan of up to 50% of your deposited amount.

Maturity period: This scheme matures in 5 years (60 months), but it can also be extended.

How does this scheme work?

You deposit a fixed amount every month.

After 5 years, you get the amount of principal + interest.

Example: If you deposit ₹3,500 every month, after 5 years you will get ₹249,776, which includes ₹39,776 interest.

How to open an RD account?

You must have a Post Office Savings Account.

Go to the post office and apply to open an RD account.

Start your investment with a minimum of ₹100/month.

Loan Facility:

After making regular deposits for 12 months, you become eligible for a loan.

You can take a loan of up to 50% of your deposit.

Lump sum or instalment options are available to repay the loan.

Things to keep in mind:

A Post Office Savings Account is required to open one.

The investment period is 5 years, but it can be extended by another 5 years.

Interest rates may change from time to time, so make sure to get updated information before investing.

People Also Ask (Google Search FAQs):

1. What is the interest rate in Post Office RD?

Currently, 6.7% annual interest is being offered on the Post Office RD scheme.

2. Is a savings account necessary to open an RD account?

Yes, it is necessary to have a Post Office Savings Account to open a Post Office RD account.

3. Can a loan be availed in the RD scheme?

Yes, after investing for 12 months, you can take a loan uof p to 50% of your deposited amount.

4. What is the maturity period of the RD scheme?

This scheme matures in 5 years, but it can also be extended.

5. Is there any maximum limit of investment in RD?

No, there is no maximum limit of investment in the RD scheme.

Disclaimer: This article is written for information purposes only. Consult your financial advisor before investing.