Post Office RD: This scheme is not only 100% safe, but it also offers you a guaranteed opportunity to build a corpus of lakhs at a fixed interest rate, without any risk. If you’re looking for a safe investment and guaranteed returns, let’s find out how you can build a strong corpus of over ₹10 lakh in 5 years by depositing a small amount every month in the Post Office Recurring Deposit (RD) scheme.
Post Office RD
The Post Office Recurring Deposit (RD) scheme is an excellent option for those who want to deposit a fixed amount every month. The biggest advantage of this scheme is that you can start with just ₹100. By making monthly deposits for 5 consecutive years, your small savings can gradually turn into lakhs, as you benefit from compounding interest.
If you deposit ₹15,000 every month in this scheme, your total principal will be ₹9 lakh in 5 years. At the current interest rate of 6.7%, you will earn an interest of approximately ₹1.7 lakh. Thus, in just 5 years, you can build a fully guaranteed and secure corpus of ₹10.7 lakh.
Safe Investment with Government Guarantee
The Post Office RD scheme is backed by the Government of India. This means your money is completely safe. Whether the stock market goes up or down, it has no impact on your returns. This scheme is especially suitable for those who want a risk-free investment.
The interest rate in this scheme is fixed by the government and is reviewed every three months. The current interest rate is approximately 6.7% per annum. This is one of the most reliable investment options, as you know in advance how much return you will receive after 5 years.
Opening an RD Account and Other Benefits
Investing in an RD scheme is very easy. You can open it at your nearest post office. This scheme also offers tax-saving benefits, which further enhance your savings. If you are looking for a safe and wise investment for your future, this scheme can definitely make you rich. It promotes the habit of making regular deposits and helps you achieve your larger financial goals.