What is Post Office RD Scheme?
Overall, through this scheme, you can start investing with very little money. Apart from this, your money will also be completely safe. In this you can invest from Rs 100 per month. There is no maximum limit on how much you can invest. Post Office RD Deposit Account is a government guaranteed scheme of depositing small installments with better interest rate.
Also read: EPFO: If you are also a PF account holder then you will get pension, know what are these rules?
Know how much interest you will get?
The RD account that is opened in the post office is for 5 years. Doesn’t open for less than that. 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. According to the website of India Post Office, at present 5.8 percent interest is being given on the RD scheme. The central government announces the interest rate every quarter in all its small savings schemes.
If you invest 10 thousand rupees, you will get more than 16 lakhs
If you invest 10 thousand rupees every month in the post office RD scheme, that too for 10 years, then he will get Rs 16,26,476 lakhs on maturity.
Some special things about RD account
If you do not deposit the RD installment on time, then you will have to pay a penalty. For delay in installment, you will have to pay one per cent penalty every month. Along with this, if you do not deposit 4 consecutive installments, then your account will be closed. However, if the account is closed, it can be re-activated for the next 2 months.
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