If you have a lump sum amount for retirement, land sale or any other way, then this is a good investment option for you. In this scheme, you can get stable returns with low risk. You can open this account by submitting KYC and necessary documents at any post office.

Who can invest in this scheme?

Anyone can invest in this scheme. You can open an account alone or a joint account with a maximum of 3 adults. If your children are above 10 years of age, they can open the account themselves. For a minor or mentally ill person, their guardian can open the account. You can also nominate a family member or a minor. You can open as many accounts as you want in this scheme.

What is the minimum investment required?

The minimum investment starts from Rs 1,000 and there is no maximum limit. That is, you can deposit as much money as you want. Investment made in this scheme is eligible for tax deduction under Section 80C of the Income Tax Act. Investment up to Rs 1.5 lakh in a financial year remains tax free.

How many lakhs of rupees will you get after 5 years…

Currently, this scheme offers 7.7 percent compound interest per annum. Interest is paid after completion of 5 years. The interest of the first 4 years is reinvested, on which tax exemption is available, but the interest of the 5th year comes under the ambit of tax.

Another advantage of this scheme is that you can take a loan by pledging your NSC with a bank or NBFC. This way, if needed, you can manage the money without breaking your savings. The account matures in 5 years and generally it cannot be closed prematurely. This can happen only in special cases like death of the investor or court order.

If both husband and wife are employed, they can get huge benefits by opening a joint account in this scheme. If you both invest Rs 9 lakh in lump sum, then after 5 years you will get Rs 13,04,130. Out of this, Rs 4,04,130 will be as interest. This scheme is very good for those who want good returns with low risk and government guarantee. This scheme of the post office is not only safe but also helps in saving tax.

The post Post Office’s great scheme!, husband and wife open an account, deposit 13 lakhs in 5 years… first appeared on Rightsofemployees.com.

Which has been named Sukanya Samriddhi Yojana. Under this scheme, parents have to deposit money in the name of their daughters every year.

Then after this when this account matures, you get a return of lakhs of rupees. However, the full calculation of this is given to you below. The advantages of investing in this scheme are that you are given higher interest here. Whereas, you also get the benefit of compound interest on it. That is, your daughter can become a millionaire through this scheme.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is being run by the Central Government. This scheme has been started so that in future the daughter of a poor family gets financial assistance from the government. If poor families save a little money every year and invest in it, then they can give very high returns on maturity. In this scheme, an account can be opened in the name of only 2 daughters of the family.

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You will get these benefits on investment

If you start investing in Post Office Sukanya Samriddhi Yojana, then you are given the highest interest here, which is about 8.20 percent. Apart from this, you get the benefit of guaranteed return on the deposit. You do not need to pay tax on the interest received in this scheme.

Because, here, an annual deduction of up to Rs 1.50 lakh is given under Section 80 of Income Tax. In this scheme, the girl’s parents can start investing a minimum of Rs 250 every year. Whereas, the maximum investment can be up to Rs 1 lakh 50 thousand. You can transfer the Sukanya Samriddhi Yojana account to any post office in the country.

You will get Rs 11 lakh on depositing Rs 24 thousand.

If you are going to open a Sukanya Samriddhi Yojana account in the year 2025 and your daughter is 5 years old, then this account will mature in the year 2044.

If you invest Rs 24,000 every year for 15 consecutive years, then you will have to invest Rs 3,60,000 for 15 years. After this, you will get a total interest of Rs 7,48,412 at maturity and the maturity value will be Rs 11,8,412.

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If you deposit thousands of rupees every month in the postal department, then in a few years you will get lakhs of rupees with interest. Which will be very useful in your life. To take advantage of this scheme from the department, you have to contact your postman who will immediately give you information about this scheme.

Post office RD scheme will give benefits…

If you are thinking of saving some money from your income, then you can contact your nearest post office. Firozabad Deputy Postal Superintendent Ajay Dubey while giving information to Local 18 said that a scheme is being run in our post office in which any person can save lakhs of rupees by depositing small amounts of money.

A scheme called RD is being run in the postal department in which you can deposit money every month. The official said that to take advantage of this RD, you can start with Rs 100. Along with this, if you deposit Rs 15 thousand every month in the post office, then after five years you will get Rs 10 lakh 70 thousand through this scheme. In such a short time, lakhs of rupees will be easily accumulated through this scheme of the post office.

6.7 percent annual interest will be given…

The Deputy Postal Superintendent said that people do not need to go anywhere to take advantage of this scheme. Go to any postal department near you and open an RD and deposit a small amount in it. Through this scheme, you will get 6.7 percent annual interest, which will be added to your money after every three months. If you deposit Rs 15 thousand every month, then your amount of Rs 10 lakh will be deposited in 60 months. On this, you will get an interest of Rs 1 lakh 70 thousand 492. To open this RD, you will only need Aadhaar card and PAN card.

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Why can’t you deposit more than Rs 10 lakh in your savings account in a year?

The post Post Office RD: Deposit 15 thousand… You will get 10 lakhs, you are getting bumper interest… first appeared on Rightsofemployees.com.

The Ministry of Finance has announced a change in the interest rates of small savings schemes for the July-September quarter. Under this change, Recurring Deposit of 5 years has been made more attractive. The government increased its interest rates by a whopping 30 basis points. Now instead of 6.2 percent interest will be given on the recurring deposit of the post office at 6.5 percent. Apart from this, the interest rate has also been increased by 10 basis points on time deposits of 1 year, 2 years.

New interest rate effective from 1 July 2023

The new interest rate on Post Office Recurring Deposit is effective from 1 July 2023, which will remain till 30 September 2023. This is a scheme which is meant for medium term investors. 6.5 percent interest is available annually, but the calculation is done on the basis of quarterly compound. A minimum of Rs.100 and thereafter any amount in multiples of Rs.100 can be deposited. Let us tell you that the recurring deposit of the post office other than the bank is only for 5 years. Later it can be extended again for 5 years. During the extension, only the old interest rates will be available.

By depositing 10 thousand you will get 7.10 lakh

According to the Post Office RD Calculator, if an investor deposits 10 thousand rupees every month, then after five years he will get 7 lakh 10 thousand rupees. His total deposit capital will be Rs 6 lakh and the interest component will be around Rs 1 lakh 10 thousand.

By which date it is necessary to submit the installment

If you also want to open a Recurring Deposit account in the post office, then tell that if the account is opened between 1-15th, then it will have to be deposited by 15th of every month. If the account is opened in a month after 15th, then the installment will have to be deposited by the end of every month.

Haste of 1 day will cause big loss

Loan facility is also available after depositing 12 installments. The rate of interest will be 2 percent more than the RD account interest rate. If the account is closed even 1 day before 5 years, then the benefit of only savings account interest will be available. Right now the interest rate on savings account is 4 percent.

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In today’s time, there are many such schemes, where even if you invest a small amount monthly, you can get guaranteed returns in a few years. One such scheme is Recurring Deposit (RD). RD has been trusted by the people for a long time. In this you can start investing from 100 rupees also.

The amount with which you start the RD, you have to invest the same amount every month till it matures. For RD, you can open account bank or post office anywhere. You can open RD account in banks for one year, two years or for any time according to you, but Post Office Recurring Deposit Account opens for 5 years. At present, interest is being received at the rate of 5.8 per cent on post office RD. Let us tell you that if you start a monthly RD with an amount of Rs 1000, 2000, 3000 or 5000, then how much amount you will get on maturity.

On investment of Rs 1000

According to RD Calculator, if you invest Rs 1000 in Post Office RD every month, then you will invest a total of Rs 12,000 in a year and in 5 years you will invest Rs 60,000. In this case, in 5 years, you will get a total of Rs 9,694 as interest according to 5.8 and on maturity you will have a total of Rs 69,694.

On investment of Rs 2000

On the other hand, if you invest Rs 2000 every month in Post Office RD, then you will have to spend Rs 24,000 in a year. In this way you will invest Rs 1,20,000 in 5 years. In 5 years, you will get a total of Rs 19,395 as return. Accordingly, you can add Rs 1,39,395 till maturity.

On investment of Rs.3000

On the other hand, if you invest Rs 3000 every month in RD for 5 consecutive years, then you will invest Rs 36,000 in one year and in 5 years you will invest a total of Rs 1,80,000. You will get Rs 29,089 as interest on your total investment and you will get Rs 2,09,089 on maturity.

On investment of Rs 5000

Similarly, if you invest Rs 5000 every month, then you will invest Rs 60,000 in a year and in 5 years you will invest a total of Rs 3,00,000 in RD. According to the annual interest of 5.8 percent, you will get a total of Rs 48,480 as interest and you will get a total of Rs 3,48,480 on maturity. In this way, even by investing a small amount, you can raise a substantial amount for yourself in 5 years.

The post Post office RD Scheme: Depositing 1000, 2000, 3000 and 5000 rupees every month in post office RD account, how much will be the return on maturity? know here first appeared on Rightsofemployees.com.

Post Office Recurring Deposit Scheme (5-Year Post Office Recurring Deposit Account) is getting 5.8% annual interest. Let us tell you, in this scheme the compound interest is calculated on a quarterly basis.

The maturity of Post Office Recurring Deposit ie PORD is after five years. After this it can be extended once for another 5 years. Meaning you can run it for 10 years. Today we will tell you that if you start a monthly investment of Rs 10,000 in PORD, then how much money you will get on maturity, as well as the other benefits available on this scheme. Let me tell you, there is no risk on deposits in the post office, here your money is completely safe.

This is how calculation is done on Post Office RD

According to the information available on the post office website, one can start investing in Recurring Deposit (RD) from Rs 100 in the post office . Also, there is no limit of maximum investment in it. In this scheme, you get an annual interest of 5.8%.

How much money will be received from 10 thousand rupees

If you deposit Rs 10,000 every month, then after 5 years you will have a guaranteed fund of Rs 6,96,968 and also earn Rs 96,968 from interest. In this amount, 6 lakh rupees are for your investment.

How much fund will be received in 10 years

If you extend the Post Office RD scheme once after 5 years for another 5 years, then you will get a guaranteed return of Rs 16,26,476. In this, Rs 12 lakh will be your investment. Whereas, Rs 4,26,476 will be earned from interest.

Can take loan on deposit

Let us tell you, you can also take a loan on RD account in the post office. There is a rule for this that after depositing 12 installments, you can take a loan up to 50% on the deposit. You can repay the loan in one go or in installments. The loan interest rate will be 2% higher than the interest on RD. Also, you can pre-mature closure of this scheme after 3 years.

The post Post Office RD Account: Deposit 10 thousand rupees every month, after 5 years you will get Rs 6,96,968 first appeared on Rightsofemployees.com.

In today’s time, there are many such schemes, where even if you invest a small amount monthly, you can get guaranteed returns in a few years. One such scheme is Recurring Deposit (RD). RD has been trusted by the people for a long time. In this you can start investing from 100 rupees also.

The amount with which you start the RD, you have to invest the same amount every month till it matures. For RD, you can open account bank or post office anywhere. You can open RD account in banks for one year, two years or for any time according to you, but Post Office Recurring Deposit Account opens for 5 years. At present, interest is being received at the rate of 5.8 per cent on post office RD. Let us tell you that if you start a monthly RD with an amount of Rs 1000, 2000, 3000 or 5000, then how much amount you will get on maturity.

On investment of Rs 1000

According to RD Calculator, if you invest Rs 1000 in Post Office RD every month, then you will invest a total of Rs 12,000 in a year and in 5 years you will invest Rs 60,000. In this case, in 5 years, you will get a total of Rs 9,694 as interest according to 5.8 and on maturity you will have a total of Rs 69,694.

On investment of Rs 2000

On the other hand, if you invest Rs 2000 every month in Post Office RD, then you will have to spend Rs 24,000 in a year. In this way you will invest Rs 1,20,000 in 5 years. In 5 years, you will get a total of Rs 19,395 as return. Accordingly, you can add Rs 1,39,395 till maturity.

On investment of Rs.3000

On the other hand, if you invest Rs 3000 every month in RD for 5 consecutive years, then you will invest Rs 36,000 in one year and in 5 years you will invest a total of Rs 1,80,000. You will get Rs 29,089 as interest on your total investment and you will get Rs 2,09,089 on maturity.

On investment of Rs 5000

Similarly, if you invest Rs 5000 every month, then you will invest Rs 60,000 in a year and in 5 years you will invest a total of Rs 3,00,000 in RD. According to the annual interest of 5.8 percent, you will get a total of Rs 48,480 as interest and you will get a total of Rs 3,48,480 on maturity. In this way, even by investing a small amount, you can raise a substantial amount for yourself in 5 years.

The post Post Office RD Account! Monthly RD of 1000, 2000, 3000 and 5000 rupees in Post office, how much return will be received on maturity? know here first appeared on Rightsofemployees.com.

For this you will have to pay some money as fine. Let us tell you that Recurring Deposit i.e. RD is considered to be the best way of saving even today. RD can be started anywhere at post office or bank. Post Office Recurring Deposit Scheme has a tenure of 5 years and is one of the most popular schemes. It is like a piggy bank, in which after depositing money continuously for five years, you get your total deposited money back with interest.

At present, the interest rate of 5.8 % per annum is being available on Post Office RD . If you are not able to deposit the installment of Post Office Recurring Deposit due to any reason by the stipulated last date, then penalty at the rate of 1% per month also has to be paid. At the same time, your account can be closed if several consecutive installments are not deposited. If your account has also been closed due to non-payment of installments, then you can apply for its revival, then it can be started again.

In case of resumption, you will have to first deposit the outstanding installments of the previous month along with the penalty. If you do not submit any application within a period of two months, it is closed completely. Whether you have opened the account before the 15th of the month or later, the date of your RD deposit is decided on this basis. If your account is opened by the 15th of any month, then you have to deposit your installments by the 15th in any case.

On the other hand, after opening the account after 15th, you can deposit your installment from 16th of the month till the last date of the month. But penalty can be imposed for non-payment of the installment within the stipulated period.

If you are not able to deposit the installments, then follow this method

If you feel that your financial condition is not a bit good and you may find it difficult to deposit the installments continuously for some time, then you can extend the maturity period of your account even further. But you have to do this work already. If you think of applying this option after not paying the installments for four months, then it will not happen. The extension of maturity period can be extended as much as the number of months you are not able to pay the installment.

Get a discount by depositing the installment in advance

If you want, you can also submit the RD in advance. This option is better for those who want to avoid the hassle of making monthly deposits. But you have to deposit at least six months advance installment. There is a discount of Rs 10 for every 100 on depositing 6 months advance installments and 40 rupees for every 100 on depositing one year’s installment together.

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Which also gets tax exemption with higher interest rate. Most importantly, guaranteed by the Government of India. Today we are telling you about such a scheme of post office in which you can earn big profits from small investments. One should invest in Post Office Recurring Deposit (RD) scheme for good returns. Let’s know about this plan.

Safest Investment Investing in the post office not only keeps our money safe, but also gives us good returns. Money never sinks in Post Office Recurring Deposit Scheme investment. Because this scheme is run under the supervision of the government. Large funds can also be created by depositing some money in an RD account. RD account can be started with a deposit of just Rs.100. At present, 5.8 percent interest is being given on the recurring deposit scheme.

Who can open the account Any person above the age of 18 years can open an account in the Post Office Recurring Deposit Scheme. In this you can also open a joint account. A minor’s account can also be opened by the guardian. For this, an account can also be opened in the name of a minor who is above 10 years of age.

You will get so many lakhs on maturity, you can earn good profits from this scheme. If you invest 10 thousand rupees every month in this post office scheme for 10 years. So you will get 5.8 percent interest after 10 years. On maturity, you will get more than Rs 16 lakh. If you deposit Rs 10,000 every month, then you will get Rs 16,28,963 on maturity of 10 years on getting interest at the rate of 5.8 percent.

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Even in the era of mutual funds, you can earn good profits by investing in the post office. The post office runs many savings schemes for its customers. By investing in these schemes, you can collect big money for your future. Investing in Mutual Funds is risky, but if you want to make a safe investment, you can invest in Post Office schemes. You can invest in Post Office Recurring Deposit scheme to get decent returns without any risk.

You can start with Rs.100

Investing in Post Office Small Savings Scheme Recurring Deposit is completely safe. You can start investing in this scheme with Rs 100 and there is no limit on the maximum investment. You can invest in a recurring deposit scheme for a tenure of one year, two years or more as per your convenience. In this, interest is earned every quarter on the amount invested. At the end of every quarter, the interest amount along with compound interest is credited to your account.

How much interest do you get?

Post office scheme recurring deposit is currently getting interest at the rate of 5.8 percent. This rate is applicable from 1st April 2020. The central government fixes the interest rates of its savings scheme every quarter. Anyone can open this scheme by going to the post office. If you invest in this scheme for a long time, then you can collect lakhs of rupees.

How to get 16 lakhs?

If you invest Rs 10,000 every month in a recurring deposit scheme, then after 10 years you will get an amount of Rs 16 lakh more. Suppose you deposit 10,000 rupees every month, then in a year you will deposit one lakh 20 thousand rupees. Similarly, you have to invest in this scheme for 10 years.

In this way you will deposit Rs 12,00,000 as investment. After this, after the maturity of the scheme, you will get Rs 4,26,476 as return. In this way you will get a total of Rs 16,26,476 after 10 years. In this way you can invest lakhs of rupees by investing in recurring deposits.

Loan facility available

Anyone who is 18 years of age or above can open an account in a recurring deposit scheme. Parents can also open an account for their minor child. In this scheme of post office, you also get the facility of taking loan. You can take a loan by paying 12 instalments. 50 percent of the total amount deposited in the account can be found as a loan.

The post Post Office RD Account: Start investing with Rs 100… you will get 16 lakhs! know the complete details first appeared on Rightsofemployees.com.