Post Office RD Scheme: For those who want to keep their hard-earned money safe and also earn a fixed return, the Recurring Deposit (RD) scheme of the Indian Postal Department has emerged as a reliable option. This scheme is completely government-backed, so the risk is minimal, and the return for investors is secure.
Start with just 100 rupees
The biggest advantage of the Post Office RD is that investing in it is very easy. You can open an account with just 100 rupees. There is no upper limit on the investment amount, making it accessible to people of all income groups. Currently, the government is offering an annual interest rate of 6.7 percent on this scheme.
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Build a large fund with small daily savings
If you want to accumulate more than 10 lakh rupees in the future, you don’t need to invest a huge amount. By saving approximately 200 rupees daily, you can deposit 6,000 rupees every month.
If this amount is deposited continuously for 5 years, the total investment will be 3.60 lakh rupees, which will grow to approximately 4.28 lakh rupees with interest.
After this, if you extend this account for another 5 years, you can get approximately 10.25 lakh rupees after 10 years.
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Loan and withdrawal facility when needed
This Post Office RD scheme is not limited to just savings, but also assists when needed. According to the rules, after one year of account opening, a loan of up to 50 percent of the deposited amount can be taken. In case of an emergency, premature closure of the account is also allowed after 3 years. If something unfortunate happens to the account holder, the nominee receives the entire deposited amount along with interest.
Who can benefit from the scheme?
Any Indian citizen aged 18 years or older can invest in this scheme by visiting their nearest post office. This plan is especially suitable for those who want to avoid the volatility of the stock market and make safe and reliable investments.