There is hardly anyone who does not plan to save for his tomorrow. Apart from today's expenses, people invest in various plans for tomorrow from whatever they earn. Some keep their money in the bank, some get a fixed deposit ie FD and some invest in LIC's scheme. In such a situation, if you also want to invest in such a place, where you can get better returns. Then the post office recurring deposit scheme may be better for you. Here you can get a return of lakhs of rupees, that too with a good interest rate. So let's know about this scheme in detail. You can learn about this in the next slides...
The name of this scheme is the Recurring Deposit Scheme, which is run by the post office. In this, you can earn more returns than bank FD and RD by investing your money. Also, your money is considered safe in this.
Know about the scheme
If you are above 10 years of age, you can open an RD account
Whereas, if you want to invest in this scheme, you can start with a minimum monthly investment of Rs 100.
Get that much interest
If you invest in this scheme, you get a 5.8 percent interest rate
Wherein, you can withdraw money from your account after one year of account opening
Then when one year is over, you can take a loan for up to 50 percent of the deposit amount.
How much return on how much investment?
If you invest around Rs 333 daily i.e. Rs 10 thousand in a month, then you can get around Rs 16 lakh in 10 years at the current interest rate of 5.8%. In these 10 years, you will have to deposit Rs 12 lakh, on which the expected return will be around Rs 4.26 lakh.
(PC: Freepik)
