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HomePersonal FinancePost office RD scheme: Invest Rs 10000 per month and get 16...

Post office RD scheme: Invest Rs 10000 per month and get 16 lakh after maturity

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If you deposit 10 thousand rupees every month under the RD scheme of the post office, then after 10 years you can easily get 16.28 lakh rupees. The customer will get this amount on the maturity of the RD scheme.



If you want a return on investment without taking any risk, then you can invest money in the Post Office Recurring Deposit Scheme RD scheme. Even a small amount of investment in this scheme gives big profits later. Although many schemes of the post office are capable of paying the right interest to the customers, but among them the RD scheme is more prevalent. This scheme is easy to take and it is also easy to deposit money in it. By depositing a fixed amount every month, a large deposit can be found in the end.

The Recurring Deposit Scheme of the Post Office gives the facility to start with very little money while being safe. Even customers can start this scheme from Rs 100 per month. There is no limit on the maximum deposit amount. It is backed by the government, so there is no question of wasting money. Its interest rates are fixed in advance, so the customer knows how much money will be in his hand when the RD matures. Accordingly, he can plan for future expenses.

How much interest is available on RD

You have to open an RD account in the post office for at least 5 years. The interest amount will be credited to the customer’s account every quarter on the basis of the annual interest rate. Compound interest is earned on this amount and gets deposited in the customer’s account. According to India Post, currently 5.8% interest is being available on RD account. The new rate of interest is applicable from July 1, 2020. The Government of India announces the interest rate on all small savings schemes every quarter.

How much return on investment

If you deposit 10 thousand rupees every month under the RD scheme of the post office, then after 10 years you can easily get 16.28 lakh rupees. The customer will get this amount on the maturity of the RD scheme. Just keep in mind that the premium money has to be paid on time. If there is any omission in this, then the fine may have to be paid.

If there is a delay in paying the premium amount, then a penalty of 1% will have to be paid every month. With this, if money is not deposited in the account for 4 consecutive months, then the account can be closed. Even if you start this account, it will last for the next 2 months. To make it smooth, it will be necessary to pay the full fine.

Who can open account

It can be opened in single or joint account. A maximum of three adults can join a joint account. If there is a child of 10 years, then his guardian can open an RD account under his supervision. Maturity of RD scheme happens after 5 years. It can be extended for 5 to 5 years after maturity. A customer can deposit money in a minimum amount of Rs 100 and in multiples of Rs 10 thereof. The right to add the name of the nominee is available at the time of opening the account. The account can be closed prematurely after 3 years of opening.



There is a provision to add interest every quarter on the account. You can transfer RD account from one post office to another post office. Penalty will have to be paid for not paying the premium on time. Interest is charged at Re 1 per Rs 100. After one year, you can take a loan up to 50% of the amount deposited in the account. There is a facility to repay the loan amount with interest. You can deposit money online in RD account through IPPB savings account.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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