Post Office RD Scheme: When it comes to reliable investments, this Post Office scheme can prove to be quite impressive. Currently, the Post Office is a very popular scheme, generating substantial funds through its investments. Investing in the Post Office RD scheme offers secure returns. Investing in the Post Office RD scheme is quite easy. You can open an account with just ₹100 and earn compound interest every month by depositing a fixed amount. The government provides an annual interest rate of 6.7%, providing a safe and guaranteed return.
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This much return can be earned with ₹20,000 monthly
If you deposit ₹20,000 monthly, you will accumulate a total of ₹12 lakh in 5 years. Interest is offered at a rate of 6.7%. After this, an interest of approximately ₹2.27 lakh is earned. Upon maturity, the total amount will be ₹14.27 lakh. This scheme not only offers good returns but also offers better interest rates than bank FDs.
Post Office RD scheme benefits
The Post Office RD scheme offers investors several additional benefits. This is a Government of India-backed scheme. There’s no risk involved in investing. Furthermore, loans are also available against the deposited amount if needed. After maturity, investors can extend the account and withdraw the funds. Investments made under this scheme also receive tax benefits under Section 80C of the Income Tax Act.
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Why is this scheme reliable?
These Post Office schemes are very safe and stable. The money invested in them is unaffected by market fluctuations. At the same time, the stock market and mutual funds also experience significant fluctuations. By saving with this scheme, you can create a secure fund for your children’s education, marriage, or retirement.