Post Office RD: The government has increased the interest rate on 5-year Post Office RD from 6.5% to 6.7% for the quarter from October to December.
Post Office RD: Many rules are changed on the first of every month in the country. But the interest rate of Small Saving Scheme is changed by the government every 3 months. Under this, now on the first of October, the government has increased the interest rate on Post Office RD and customers are going to get direct benefit from it. The government has increased the interest rate on 5-year Post Office RD from 6.5% to 6.7% for the quarter from October to December.
In such a situation, you can start investing in this Post Office RD with a minimum of Rs 100, while there is no limit on maximum investment in it. If you invest Rs 5000 every month in this Post Office RD, then after a certain time you will accumulate a fund of Rs 57 lakh. In this, you can increase your RD after every 5 years, you are given this facility.
Therefore, if you deposit Rs 5000 every month for 5 years, you will deposit Rs 3,00,000 and you will get Rs 56,829 as interest on this. In this way you get a total of Rs 3,56,829 after 5 years. But if you extend this Post Office RD for another 5 years, then you will get Rs 9,75,173 in 10 years. On this you will invest Rs 8,54,273 and you will get a profit of Rs 2,52,272 on investment of Rs 6 lakh.
Similarly, if you extend this Post Office RD every 5 years for 30 years, then your investment will be Rs 38,62,191 and after this you will get Rs 57 lakh. In this way, the total investment will be Rs 18 lakh and you will get a profit of Rs 39,40,998.
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