Post Office RD: You might be making small daily savings in the hope that a substantial sum will accumulate over time, but relying solely on standard bank savings accounts may not be enough to build a large corpus for the future. Instead, you can use small savings schemes. The Post Office currently offers an excellent Recurring Deposit (RD) scheme. For instance, if you save ₹300 daily for 30 days, your monthly contribution totals ₹9,000. Investing this amount in a Post Office RD for five years allows you to accumulate a significant sum.
The Post Office launched this RD scheme for individuals who prefer safe investments but cannot invest a lump sum amount all at once on a monthly basis. A key feature of this scheme is that it remains unaffected by market fluctuations, and the invested amount earns interest. In this article, we will explain the maturity amount you can expect to receive.
How much money will you get from the Post Office RD?
If you invest ₹300 daily in the Post Office RD—amounting to a monthly investment of ₹9,000—and continue this process for five years, the interest earned on your contributions will result in a substantial total corpus. The scheme currently offers an interest rate of 6.7%.
How much will the corpus grow with a monthly investment of ₹9,000?
If you invest ₹9,000 per month in the Post Office RD scheme for five years, your total principal investment will be ₹5.40 lakh. The total interest earned over this period amounts to ₹1.02 lakh. Consequently, the total maturity value becomes ₹6.42 lakh, providing you with a significant final fund. The maturity amount received under this scheme may vary depending on the interest rate and the scheme’s terms and conditions.
Start investing with as little as ₹100.
You can start investing in the Post Office RD scheme with a minimum amount of ₹100, which you can increase later. This means that individuals can make monthly investments in the scheme based on their income and savings. For instance, if you manage to save ₹300 daily, you can invest that amount in the RD scheme and accumulate a substantial sum for your family’s future over a period of five years.