Post Office: Are you also looking for a good option for investment without risk. These days post offices are giving investment opportunity without risk. Let us know in detail about the Recurring Deposit Scheme…
There are many great schemes for investing in post office, in which you can invest money. Today we are going to tell you about one such wonderful scheme of the post office. By investing in this scheme you can become a millionaire very soon.
The name of this wonderful scheme of the post office is Recurring Deposit Scheme (RD) Scheme. By investing in this you can earn Rs 24 lakh in a short time. On maturity, you get the entire money in lump sum. Along with this, if you invest in this policy, then after 12 months, you can also take a loan on it. This is a great scheme of the post office.
You can open an account with just Rs 100.
For small savings, an account can be opened in the post office by making a minimum investment of Rs 100. Along with this, you can deposit money in multiples of Rs 10-10 under the Recurring Deposit Scheme. There is no limit on its maximum investment.
Currently, 5.8 percent annual interest is available on RD in the post office. Apart from this, compounding of interest is done on quarterly basis. If you deposit Rs 15 thousand every month in this scheme and after 5 years extend this account for 5 years, then after 120 months i.e. on maturity you will get Rs 24 lakh 39 thousand 714.
It is also important to know that
the specialty of RD scheme is that one person can open multiple RD accounts. In this, you can open a joint RD account with maximum three people. The facility of opening guardian account is also available for minors. Apart from this, your 12 installments are completed and you get the facility to take loan up to 50 percent of that money.
You can repay the loan in lump sum or in installments. Along with this, you can invest in RD scheme on monthly basis for 5 years. Apart from this, after maturity, it can be extended for further five years if needed.
