Post office RD Interest Rates Increased: The government has increased the interest rate of the post office’s 5-year RD scheme from 6.5 percent to 6.7 percent. You can open an account by investing just Rs 100.
Money Saving Scheme: Post post schemes are considered a great option for investment. In this, safe returns are guaranteed. The government keeps revising the interest rates of these schemes every three months. The interest rate has been fixed for October to December. By investing in Post Office Recurring Deposit (Post Office RD Scheme), customers can make a fund of lakhs on small investments in a short time. The interest rate has been increased from 6.5 percent to 6.7 percent. This means that now investors will get more profits than before.
About the scheme
An account can be opened in RD scheme with an investment of Rs 100. Later you can invest in multiples of 10. The facility to open more than one account is also available. Anyone above 10 years of age can avail its benefits. Loan is also available up to 50% value of the deposit amount. You can take the scheme for 1 year, 3 years and 5 years. For 5 years recurring deposit, a monthly premium of Rs 2 thousand or Rs 3 thousand or Rs 4 thousand will have to be paid.
Here is the calculation
If a person buys a recurring purchase of Rs 2,000, he will have to deposit Rs 24,000 annually. You will get around Rs 1,42,000 during maturity. Out of which interest will be around Rs 22 thousand. If you take RD of Rs 3000 for 5 years, you will have to deposit Rs 36000 in 1 year. That means in 5 years you will have to deposit Rs 1,80,000. In such a situation, you will have to save Rs 100 daily. During maturity, one gets a return of around Rs 2 lakh 13 thousand.
