If you are planning to invest your savings in a good scheme, from where you get good returns, then this news is especially for you. Today we are going to tell you about a very great investment scheme of the post office, where you can become a millionaire in a few years by investing just 5 thousand rupees. The name of this scheme of the post office is Recurring Deposit Scheme.
In this scheme, you can invest a fixed amount every month and collect a fund of more than Rs 8 lakh in a few years. At present, you are getting an interest rate of 6.7 percent on investing in this scheme. The maturity period of this scheme is five years. However, after the maturity period of five years, you can extend your investment period for another five years.
You can easily open your account in the Recurring Deposit Scheme by visiting your nearest post office. The special thing about this scheme is that you can start investing from Rs 100.
The maximum investment amount limit has not been fixed. If you open an account in this scheme and invest Rs 5,000 every month for the entire five years, then the amount invested by you will be Rs 3 lakh.
If you calculate at the current interest rate of 6.7 percent, you will get a total of Rs 56,830 as interest. In this case, you will have a total of Rs 3,56,830.
After this, you will have to invest more for the next five years. In this case, the total amount invested by you will be Rs 6,00,000. On this, you will get a total interest of Rs 2,54,272. In this situation, after ten years, you will have Rs 8,54,272 at the time of maturity.
(PC: Lifeberrys)
