Post Office RD is for 5 years. At present, 6.7 percent interest is being given on Post Office RD. Know here that if you deposit ₹ 2000, ₹ 3000 and ₹ 5000 every month in this scheme, then how much profit will you earn according to the current interest rate.
Post Office RD: If you want to save money by making small savings and do not want any kind of risk on your investment, then Post Office Recurring Deposit i.e. Post Office RD can prove to be a good scheme for you. Although you will get the option of RD of different tenures in the bank as well, but the RD of Post Office is for 5 years. In such a situation, there is a scope of saving a good amount by depositing a fixed amount every month for 5 years. At present, 6.7 percent interest (Post Office Recurring Deposit Interest Rates) is being given on Post Office RD. In such a situation, know here that if you deposit ₹ 2000, ₹ 3000 and ₹ 5000 every month in this scheme, then how much profit will you earn according to the current interest rate.
On investing Rs 5,000
If you start an RD of Rs 5,000 every month, then you will invest a total of Rs 3,00,000 in 5 years. According to the Post Office RD Calculator, you will get Rs 56,830 as interest at the rate of 6.7% on this. In this way, you will get Rs 3,56,830 on maturity.
On investing Rs 3,000
If you want to start an RD of Rs 3,000 per month, then you will invest Rs 36,000 in a year and invest a total of Rs 1,80,000 in 5 years. According to the Post Office RD Calculator, as per the new interest rates, you will get Rs 34,097 as interest and a total of Rs 2,14,097 on maturity.
On investing Rs 2,000
If you are going to start an RD of Rs 2,000 per month for 5 years, then you will invest Rs 24,000 in a year and Rs 1,20,000 in 5 years. In such a situation, you will get Rs 22,732 as interest with the new interest rate i.e. 6.7% interest. In such a situation, after 5 years, you will get a total of Rs 1,42,732 by combining your invested amount and the interest amount.
Review of interest rates every three months
The Finance Ministry of the Central Government reviews the interest received on small savings schemes every three months. On October 1, 2023, the government increased the interest rate of Post Office RD from 6.5 percent to 6.7 percent. No change has been made in it since then. Let us tell you that whatever interest rate you start RD with, you get interest according to that in 5 years. Even if there is a change in the interest rate of RD in between, it will not affect your investment.
Also Read-
- EPFO Pension Calculator: How much pension will you get from EPFO on retirement? Calculate with this formula
- How much return will you get if you invest ₹1,00,000, ₹2,00,000 or ₹5,00,000 in Post Office NSC? See calculation
- Life certificate can be uploaded from home, EPFO told the step by step process for this
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