Post Office RD: The government recently announced the interest rates of post office schemes. The government has not made any changes in the interest rates. Here we are telling you about such a post office scheme which is best for the employed.
Post Office RD: The government recently announced the interest rates of post office schemes. The government has not made any changes in the interest rates. Here we are telling you about such a post office scheme which is best for the employed. If you do not have money to invest money at once, then you can save money from your salary every month and invest money in the post office scheme. You can invest a fixed amount every month in Post Office Recurring Deposit. 6.7 percent annual interest is being given on post office RD.
Invest in RD in post office
By investing Rs 7,000 every month in RD, you will invest a total of Rs 4,20,000 in 5 years. You will get an interest of Rs 79,564 after 5 years and Rs 4,99,564 on maturity.
Investing Rs 5,000 every month in RD will yield Rs 60,000 in one year and a total of Rs 3,00,000 in five years. You will get Rs 56,830 as interest after 5 years at the rate of 6.7 percent. You will get Rs 3,56,830 on maturity.
If you invest Rs 3,000 every month in RD, you will invest Rs 36,000 in one year. Your total investment in 5 years will be Rs 1,80,000. According to the Post Office RD Calculator, according to the new interest rates, you will get Rs 34,097 as interest. You will get a total of Rs 2,14,097 on maturity.
Benefits of Post Office Saving Scheme
TDS is deducted on the interest received on RD. TDS of 10% is applicable on the interest rates received on RD. If the interest on RD for one month is more than Rs 10,000 then TDS will be deducted. The Finance Ministry of the Central Government reviews the interest on small savings schemes every three months.
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