The most important thing about this post office scheme is that an account can be opened even by investing Rs 100 a month in it. Therefore, such individuals who do not save much in a month, they can invest in it.
New Delhi. Most of the people want to invest their capital in such a place, where there is a good increase in their money over time as well as there is no risk of losing money. Therefore, if you are also thinking of investing your blood and sweat in any risk-free scheme, then Post Office Recurring Deposit (RD) is perfect for you. While the investment in this government scheme is 100% safe, the interest rate of 5.8 percent per annum will also be available.
Investment in Recurring Deposit can be done for 1 year, 2 years, 3 years as per your convenience. In the RD scheme of the post office, any person above the age of 18 years can open his account. A joint account can also be opened in this scheme. A guardian can also open an account of his minor child. The account can also be opened in the name of a child above the age of 10 years.
You can start investing from Rs 100 a month
The most important thing about this post office scheme is that an account can be opened with Rs 100 in it. Therefore, such individuals who do not save much in a month, they can invest in it. Interest is calculated on the deposited money every quarter (at annual rate). Then it is added to your account with compound interest at the end of every quarter.
This is how the fund will be made
How you can make a big fund for the future by investing in this scheme, you can understand it with this example. If you invest 10 thousand rupees every month in the post office recurring deposit account for 10 years, then you will get Rs 16,28,963 on maturity after 10 years.
Keep these things in mind
It is necessary to invest continuously in the post office recurring deposit account. If an investment does not deposit the installment on time, then he has to pay a penalty. For delay in installment, one per cent penalty will have to be paid every month. If 4 consecutive installments are not deposited then the account gets closed. However, the closed account can be revived within 2 months.
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