Post Office Scheme- Everyone knows how to earn money, but few know how to invest it properly. If you’re wondering how to save Rs 5,000 per month and make lakhs, you have several investment options. You can try Post Office Recurring Deposit (RD). You can earn upto Rs 8 lakh.
5000 will create a fund of Rs 8.5 lakh
Suppose you deposit Rs 5,000 every month into this post office scheme. In five years, you’ll have a total of Rs 3 lakh, earning interest of approximately Rs 56,830. This means you’ll have a total of Rs 356,830 after five years. If you extend this scheme for another five years, meaning you deposit Rs 5,000 every month for a total of 10 years, your deposit will reach Rs 6 lakh, earning an interest of approximately Rs 254,272. Thus, after 10 years, you’ll have a total of Rs 854,272. This means you can build a strong corpus of over Rs 8.5 lakh by saving just Rs 5,000 a month.
You can start saving with just Rs 100
This post office scheme isn’t just for the wealthy. It’s also beneficial for those who can’t save much each month. You can start with just ₹100 per month. Gradually increase the amount, and within a few years, you’ll have a substantial deposit. There’s no upper limit on the amount you can deposit. You can deposit as much as you want or as much as your budget allows each month.
When investing in many market schemes, there’s a fear that your money might be lost. However, this Post Office scheme offers no such risk. This scheme is government-guaranteed, meaning your deposit is completely safe. Even with bank deposits, the guarantee is only up to Rs 5 lakh. However, with this Post Office scheme, your entire deposit is considered safe.
If you need money in the meantime, there’s no need to worry. After completing one year of this scheme, you can take a loan of up to 50% of your deposit. This means that your money will continue to accumulate and you’ll also receive assistance when needed.
You can also deposit online
Now you don’t need to visit the post office every month. If you have an India Post Payments Bank (IPPB) account, you can pay your monthly installment online from the comfort of your home. You can open an account under this scheme individually or jointly with a family member. If necessary, the account can also be transferred from one post office to another.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.
