If you are also looking for such a scheme, then the RD scheme of the post office can be a great option. In this, you do not need to invest a large lump sum amount, rather you can earn good returns by depositing a fixed amount every month.

If you invest Rs 7000 per month in this scheme, let us know how much money you can save in 10 years.

The interest rate of the Post Office RD scheme is 6.7%, which is calculated on a quarterly basis. If you invest Rs 7000 per month, then in 5 years your total deposit amount can be around Rs 5 lakh, which will give an interest of Rs 79,564. If you extend this RD for 10 years, then your total investment amount will be Rs 8,40,000, which will give you a maturity amount of around Rs 11.95 lakh.

One of the major advantages of this scheme is that it can be opened with as little as Rs 100, and there is no maximum investment limit. Apart from this, investors also get the benefit of compounding interest, and they can open it as a single or joint account.

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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.

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