Post Office Scheme: Nowadays, everyone is thinking about investing for their family’s future to secure it. If you are also considering investing for your family, then this news can be very special for you. The government-backed Post Office is currently running a special scheme to benefit people.
The special thing about this scheme is that the invested amount is completely safe and you will receive a large sum as a return. We are talking about the Post Office RD scheme. If you save Rs 333 daily and invest Rs 10,000 monthly in this scheme, you can accumulate a fund of Rs 7 lakh in 5 years. If you extend it for another 5 years, you can accumulate up to Rs 17 lakh at maturity.
This Post Office scheme is specially designed for those who cannot invest a large sum of money at once. This scheme is designed for those who can accumulate a fund by saving small amounts. Loan facility is also available with this scheme.
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Know how much interest is being offered
For your information, this Post Office scheme offers an annual interest rate of 6.7 percent. A large sum of money is not required to open an account. You can start the scheme by investing a minimum of Rs 100 monthly. The maturity of this scheme is 5 years. You can also extend the scheme further. People aged 18 years or older can invest in this Post Office scheme. Parents can also open an account in the name of their children.
Learn how to get a fund of Rs 5 lakh
If you save Rs 333 daily and invest in this scheme, it will amount to Rs 10,000 per month. In this case, if you invest 10,000 rupees every month in the scheme, the total deposit will be 6 lakh rupees in 5 years. At an interest rate of 6.7 percent, you will receive 1,13,659 rupees in interest, making the total amount 7,13,659 rupees.
However, if you extend the investment for another 5 years, the total deposit will be 12 lakh rupees in 10 years. After this, you will receive a total of 5,08,546 rupees as interest. This will bring the total amount at maturity to 17,08,546 rupees.
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These facilities are available
The Post Office RD scheme offers loan facilities to investors. If you need money after opening the account, you can take a loan. Some conditions apply; according to these conditions, the account must be at least one year old. Also, you can only get a loan up to 50 percent of the deposited amount. An extra interest of 2 percent is charged on this loan. The scheme also offers a pre-mature closure facility. Investors can close the account after 3 years. If the account holder dies, the nominee receives the full amount.
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Adarsh P
Adarsh Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...
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