Post Office Scheme: Investment can start with just Rs 100, 5.8 percent interest is assured

Post Office Recurring Deposit : Indian Post Office brings the best savings plans in the country. This time the department is bringing for you an investment of only Rs 100 in the Post Office Recurring Deposit Scheme (Post Office Recurring Deposit-RD), in which you will get a great fund back if you invest. Let us tell you that since the post office department is government, there is no danger of drowning the money invested in it. Also, you can create a big fund by depositing some money in the RD account.

investment for so long
There is no maximum limit for depositing money in RD account. Recurring Deposit can be opened for 1 year, 2 years, 3 years as per your convenience. Interest is charged quarterly on the money deposited in it. Also, at the end of every quarter, your account is added (with compound interest).

age should be
In the RD scheme of the Post Office, any person above the age of 18 years can open his account. A joint account can be opened in this scheme. Also, parents can open a minor account of their child. is a minor above the age of 10 years. So an account can be opened in his name.

have to do this
If you put 10000 rupees every month in the RD scheme of the post office and on getting interest at the rate of 5.8 percent, you will get Rs 16,28,963 on the maturity of 10 years.

will get loan
In the Post Office RD plan, you get the facility to take a loan from the bank. You can take a loan after depositing 12 instalments. Up to 50 percent of the amount deposited in the account is taken as a loan. On the loan, 2 percent more interest will have to be paid than the interest on RD.

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