In today’s time,common people save a part of their income and invest it in a place where their money is safe and they get good returns. In such a situation,you can invest in the schemes run by the post office. It is also called Post Office RD (Recurring Deposit). This scheme is for 5 years. By saving ₹ 100 daily,you can create a fund of lakhs of rupees in 5 years. This scheme is great for those who want to create a big fund by making small savings.
Nowadays everyone wants to invest their hard-earned money in a safe and profitable place. The Post Office Recurring Deposit (RD) scheme provides one such golden opportunity. This scheme is a boon for those who want to create a big fund by making small savings regularly.
Account opening process
You can open an account in the Post Office RD scheme by visiting any nearest post office. In this,investment can be started from ₹ 100,while no limit has been set for maximum investment. The maturity period of this great scheme is 5 years.
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The account can also be opened in the name of a minor
The account can also be opened in the name of a minor in this scheme. However,parents are also required to give their names along with the documents. The facility of closing the account before time is also given in this scheme. A loan facility is also provided in this scheme.
How to create a fund of lakhs
By saving just ₹ 100 daily,you can deposit ₹ 3,000 every month. With this monthly investment in the RD scheme of the post office,you will be able to deposit ₹ 36,000 every year. In this way,your total investment in 5 years will be ₹ 1.80 lakh. Currently,this scheme is getting interest at the rate of 6.7 percent,which will give you an interest of ₹ 34,097 in 5 years,i.e. you will get a total of ₹ 2,14,097 on maturity. In this way,you can deposit a good amount from small savings.
The Post Office Recurring Deposit (RD) scheme is a great option for those who want to create a big fund by making small savings. This scheme not only provides you with financial security but also secures your future. So,if you also want to create a big fund from small savings,then definitely consider this scheme of the post office.
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