Recurring Deposit (RD) scheme in post office is considered a good scheme for the poor. In this scheme, you can pay a fixed amount every month and get a lump sum amount along with interest at the end of five years.
The Recurring Deposit (RD) scheme at the post office is an ideal scheme for those who want to save a large amount over five years by making a fixed monthly deposit. Let us tell you about this scheme in detail.
In this scheme, you can pay a fixed amount every month and get a lump sum along with interest at the end of five years. The investment tenure of this scheme is only five years.
In the post office RD scheme, if you deposit Rs 1500 per month at the rate of Rs 50 per day, you can get Rs 1,07,050 at the end of 5 years with 6.7% interest. Similarly, if you save at the rate of Rs 100, you can get Rs 2,12,972. This amount will be very beneficial for the poor and needy. To join this scheme, contact the nearest post office.
One of the special things about this scheme is that we can withdraw the money quickly within five years. However, some conditions may be imposed. There are also tax benefits under the Income Tax Act for investments made in the RD scheme. Therefore, a large number of people are benefiting from this scheme.
There are many good savings schemes like Public Provident Fund (PPF), Monthly Income Scheme (MIS), National Savings Certificate (NSC), Recurring Deposit Account (RD), Senior Citizen Savings Scheme, Sukanya Samriddhi Scheme and Time Deposit Account (TD) etc. in the post office. These provide safe and stable income. So, join the best scheme according to you now and avail the benefits.
