If you dream of becoming a millionaire overnight, then it can happen only in dreams. We are telling you about the post office scheme here, that is, whatever investment you make will be absolutely tension free, you will not have to worry day and night about your investment. If you are doing a job or business, then you do not have time throughout the day to keep an eye on the stock market. In such a situation, this scheme is for those people who think about taking direct returns by investing once.

Start investing in Post Office RD like this

Post Office Recurring Deposit account is a government guarantee scheme to invest in small installment with better interest rate, in this you can start investing with a small amount of just Rs 100. There is no maximum investment limit, that is, you can deposit money in it as much as you want. The account for this scheme is opened for five years. However, banks offer the facility of recurring deposit account for six months, 1 year, 2 years, 3 years. Interest on the money deposited in this is available every quarter (Annual Interest Rate) and it is deposited in your account (Compound Interest Rate) at the end of every quarter.

Know how much interest you will get (Recurring Deposit Interest Rate)

The post office is offering an interest of 5.8% on the recurring deposit scheme. The Government of India fixes the interest rates of all its small savings schemes every quarter.

You will get 5 lakhs on depositing about 7 thousand every month

If you invest Rs 7 thousand 174 in the RD scheme of the post office every month for 5 years, then after 5 years you will get more than Rs 5 lakh at an interest rate of 5.8%.

The post Post office Interest: Post office scheme invest 7000 in post office recurring deposit and get 500000 rupees, check full details first appeared on Rightsofemployees.com.