The RD scheme of the post office is very popular in the country. To get financial stability and secure your future at the financial level, it is important to invest your savings in the right place. Investment made in a good place can give you a good return in a short time. Nowadays people are investing their money in many places like stock market, mutual funds, real estate, gold etc. However, many people avoid investing their savings in a place where there is a risk of market risks.

In this episode, today we are going to tell you about a very great investment scheme of the post office, where you are getting a good return. This is the Recurring Deposit Scheme of the post office. The RD scheme of the post office is very popular in the country. Let’s know about it in detail –

By investing in the RD scheme of the post office, you are currently getting an interest rate of 6.7 percent. Investment in this scheme can be started from Rs 100. At the same time, the maximum investment limit has not been fixed. Your money invested in this scheme of the post office matures in 5 years.

If you open an account in the Post Office RD scheme and invest Rs 5,000 every month, then you will be able to deposit a total of Rs 3 lakh in the scheme till the maturity period of 5 years.

If you calculate the interest rate of 6.7 percent under this scheme, then after five years, at the time of maturity, you will have a total fund of Rs 3,56,830. If you invest more for the next five years, you will deposit a total of Rs 6 lakh and the maturity value of the fund will be around Rs 8,54,272.

The process of opening an account in the Post Office Recurring Deposit Scheme is quite easy. You will not have to face any kind of problems in this. You can easily open your account in the scheme by visiting your nearest post office.

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Post Office RD Scheme

Post Office RD scheme is a very special scheme. In this scheme, you can invest a little every month and collect a huge fund. In this, you can start your investment with just Rs 100. The Post Office RD scheme gives a return of 6.7 percent interest rate. This scheme matures in 5 years.

Invest Rs 2000 every month in RD scheme

If you invest Rs 2000 every month in the post office RD scheme, you will invest a total of Rs 1,20,000 in 5 years. In this case, you will get a total of Rs 1,42,732 on maturity. Out of this, only Rs 22,732 will be your interest.

Invest Rs 3000 every month in RD scheme

If you invest Rs 3000 every month in the post office RD scheme, you will invest a total of Rs 1,80,000 in 5 years. In this case, you will get a total of Rs 2,14,097 on maturity. Out of this, only Rs 34,097 will be your interest.

Invest Rs 5000 every month in RD scheme

If you invest Rs 2000 every month in the Post Office RD scheme, you will invest a total of Rs 3,00,000 in 5 years. In this case, you will get a total of Rs 3,56,830 on maturity. Out of this, only Rs 56,830 will be your interest.

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The post Post Office RD Scheme: How much return will you get on depositing ₹2000, ₹3000 and ₹5000 every month first appeared on Rightsofemployees.com.

The name of this scheme of the post office is Recurring Deposit Scheme. You get many great benefits by investing in this scheme. The most important thing is that your money invested in this scheme is completely safe. By investing in it, you will not have to face the dangers of any kind of market risks. In the Recurring Deposit Scheme of the Post Office, you do not have to invest a lump sum amount. In this scheme, you have to invest a fixed amount every month and you get a return on it. In this episode, let us know about this scheme in detail –

Investing in the Post Office Recurring Deposit Scheme currently offers an interest rate of 6.7 percent. You can invest in the Post Office RD Scheme for 5 years. However, you can extend this scheme for another five years.

Also Read: EPFO Claim Rule: You can claim one lakh rupees under PF advance just in 3 days, Know the process

You can invest a minimum of Rs 100 in this post office scheme. However, the maximum investment amount limit has not been fixed. In this scheme, you get the benefit of compounding interest.

If you invest Rs 7,000 every month in the Post Office RD scheme, then you will be able to invest a total of Rs 4,20,000 in five years. If we calculate on the basis of the current interest rate of 6.7, then you will get around Rs 79,564 as interest on your investment in five years. In this way, you will have collected around Rs 4,99,564 after five years.

After this, if you extend the RD scheme for another five years, in this situation you can collect a fund of about Rs 12 lakh. Apart from a single account, you can also open a joint account of three people in this post office scheme.

The post Post Office RD Scheme: By investing just 7,000 rupees you can collect 12 lakhs in a few years first appeared on Rightsofemployees.com.

At present, many schemes are running on behalf of the post office. By investing in which you can earn good profit. If you are also interested in investing in the post office, then the RD scheme of the post office can be a good option for you. If you invest in it, then you can get very good returns.

RD Post Office Savings Scheme

RD Post Office Savings Scheme is one of the popular schemes run by the post office. You can get good benefits by investing in it every month. This scheme gives benefits at a very good interest rate. If you invest in this scheme, then you have to invest in it every month for 5 years.

When this period is completed, the benefit of maturity is given by the post office. To invest in this scheme, your age should be 18 years or more. You can start investing in the post office with only Rs 500. There is no maximum investment limit in this. If you invest in this scheme, you can get interest rates of about 6.70%. In this, the interest rate is calculated on a quarterly basis but it is paid on an annual basis.

Also Read: Retirement Fund: How to prepare retirement fund, stay assured for the future?

Benefits of RD investing:

• Loss free: Post office is a government run scheme, hence your deposits are completely safe in it.
• Savings: RD allows you to deposit a fixed amount every month, which helps in developing the habit of regular savings.
• Interest Rates: The interest rates offered in RD give better returns than other savings schemes in the market.
• Tax Benefits: Interest earned on RD is completely tax-free under Section 80TTA of the Income Tax Act, 1961.
• Freedom of choice: You can choose the deposit amount and deposit period as per your needs.
•  Loan Facility: You can avail a loan against your deposits.
• Planning: RD helps you set aside money for all your financial plans.

Documents required to invest in RD scheme

1. Form for opening a post office account (you can get it from your nearest post office)

2.Two passport size photographs (with signature)

3. For address and identity proof: Aadhaar Card, Passport, PAN Card, Form 60 or 61 under section 60 or 61 of the Income Tax Act, 1961, Driving License, Voter ID Card, or Ration Card (any one of these)

4. Identity proof for verification while opening account.

5. While opening the account you have to select a nominee. The nominee is the person who will receive the money in your account in case of your death.

How much profit can be made on an investment of Rs 3000

If you invest Rs 3000 every month in the Post Office RD scheme, then a good amount gets accumulated in the next 5 years. In the next five years, Rs 18,00,00 gets accumulated. On which if you get an interest rate of 6.7%, then your interest amount becomes around Rs 34,097. In this way, when the period of 5 years ends, you have a total of Rs 2,14,097 deposited with you.

The post Post Office RD: You can invest Rs 3000 every month and get Rs 2,14,097 on maturity. Details Here first appeared on Rightsofemployees.com.

Post Office RD Scheme

We are talking about the RD scheme of the post office. Many people have deposited lakhs of rupees in this recurring deposit scheme. In today’s time, this is the best option to get good returns. In this RD scheme, you can open an account for 5 years. Let us know how much interest is being given in this scheme….

Now you will get this much interest

Now talking about the interest rate of this post office RD, it is getting 6.7 percent annual interest. Earlier, 6.50 percent interest was available on 5-year RD account. In such a situation, the government had increased this post office scheme by 20 basis points. This increase was done in the middle of December 2023.

Also Read: Fixed deposits: Top 6 banks offer highest interest rates on their 5-year FDs

You will get this much on depositing Rs 4,000

As you know, in this scheme, you have to deposit some money every month, and after 5 years you get a lump sum amount on maturity. If you open an account in RD by investing Rs 4,000 every month, then you will invest a total of Rs 2,40,000 in 5 years. At the rate of 6.7 percent interest on this deposit, you will get Rs 2,85,463 on maturity. Out of which Rs 45463 will be earned only from interest.

The interest rate changes every three months

For your information, let us tell you that the interest rates of all small savings schemes are changed by the central government. If you also invest in this recurring deposit (Post Office Scheme), then you can get good returns. TDS is deducted on the interest received on RD. TDS of 10% is applicable on the interest rates received on RD. If the interest on RD for one month is more than Rs 10,000, then TDS will be deducted.

Loan is available on RD

If you need money in between then you can also take a loan on this RD account. You will be given a loan of 50% of the total deposit amount. This will be given to you after 3 years of RD (Post Office Scheme).

The post Post Office RD Scheme: If you deposit ₹4,000, you will get ₹2,85,463 after so many years first appeared on Rightsofemployees.com.

At the same time, State Bank is also offering attractive interest rates on RD scheme. In such a situation, it would be good for you to invest in the RD scheme of Post Office or SBI. You will get strong returns from both.

RD scheme facility is available in both post office and bank. Under this scheme, you can deposit in the bank for 1, 2, 3 or 5 years. This means that you are not tied to any particular deadline. Whereas, if you start RD scheme in post office, then you will have to deposit the amount for 5 years. In such a situation, if you want to invest under RD scheme in bank or post office, then this is a good opportunity for you. Because both are offering good interest rates. So let us know today about the interest rates of Post Office and SBI Bank.

Currently, the post office is giving interest at the rate of 6.70 percent to its customers under the RD scheme. Under this scheme you can invest a minimum of Rs 100 every month. The special thing is that you get compounding interest on the RD scheme of the post office. This means that interest is calculated every three months. In such a situation, after 5 years you get a good amount of interest. Also, you can invest for 5 years under the Post Office RD Scheme. If you want, you can also open a single or joint account.

Is paying 7 percent interest

If we talk about SBI, then it is offering interest at the rate of 6.80 percent to the common citizens under the RD scheme. Whereas, 7.30 percent interest is being given to senior citizens. The special thing is that if you invest under RD scheme for 1 or 2 years, then you will get the benefit of interest at this rate. At the same time, on RD scheme for 2 to 3 years, general customers will get interest at the rate of 7% and senior citizens will get interest at the rate of 7.50%. Similarly, SBI is giving 6.50 percent and 7 percent interest respectively on tenure of 3 to 5 years.

You will get big money

At the same time, on investing in SBI’s RD scheme for a period of 5 to 10 years, general customers will get interest at the rate of 6.50 percent and senior citizens will get interest at the rate of 7.50 percent. In such a situation, you will get a huge amount after 10 years.

The post SBI and Post Office are giving bumper interest on RD scheme, know how much return you will get on investment. first appeared on Rightsofemployees.com.

If you invest in post office schemes, then post office recurring deposit can be very beneficial for you. At present, most of the common people trust the post office’s RD scheme more than banks. The post office is providing 6.2 percent interest to the customers for investing in the RD scheme. In this scheme, you can start investing as low as Rs.100 per month or you can invest any amount in multiples of 10.

There is no maximum limit on the amount you can invest in this scheme. Deposit in Post Office RD scheme matures in 5 years (after 60 monthly deposits) from the date of account opening. According to the post office website, customers can further extend the account for another 5 years by submitting an application to the concerned post office.

Explain that the post office RD account can be opened by an individual, jointly by up to 3 people, or by a minor above 10 years of age. If the depositor fails to make the scheduled deposit after one month, the default penalty is Re.1 per Rs.100. The account will be closed after 4 missed installments. The interest applicable to the account is the rate at which the account was originally opened.

Banks offer better RD rates

At present, the RD interest rates offered by some banks are higher than the post office RD rate. For example, SBI is offering 7.1% interest on RD scheme. While HDFC Bank is offering up to 7% interest rate for general citizens. Banks also allow RDs with short tenures of 1 to 5 years.

Calculate like this

1. After a monthly contribution of Rs 5000 for the Post Office RD scheme, a fund of Rs 3.52 lakh will be formed in 5 years. If you extend the account for another 5 years, then the total fund in 10 years will be Rs.8.32 lakhs.
2. After a monthly contribution of Rs 1000 for the Post Office RD scheme, there will be a fund of Rs 70,431 lakh in 5 years. If you extend the account for another 5 years, then the total fund in 10 years will be Rs 1.66 lakh.
3. A monthly contribution of Rs 10,000 for the Post Office RD scheme will result in a corpus of Rs 7.04 lakh in 5 years. If you extend the account for another 5 years, then the total fund in 10 years will be Rs 16.6 lakh.

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While the investment in this government scheme is 100% safe, the interest rate of 5.8 percent per annum will also be available. Investment in Recurring Deposit can be done for 1 year, 2 years, 3 years as per your convenience. In the RD scheme of the post office, any person above the age of 18 years can open his account. A joint account can also be opened in this scheme. A guardian can also open an account of his minor child.

The account can also be opened in the name of a child above the age of 10 years. The most important thing about this scheme of investment post office is that the account can be opened even with Rs 100 in it. Therefore, such individuals who do not save much in a month, they can invest in it. Interest is calculated on the deposited money every quarter (at annual rate). Then it is added to your account with compound interest at the end of every quarter.

Such a fund will be made, how you can make a big fund for the future by investing in this scheme, you can understand it with this example. If you invest 10 thousand rupees every month in the post office recurring deposit account for 10 years, then you will get Rs 16,28,963 on maturity after 10 years.

The post Post Office Scheme: Good returns are available in this scheme, you can start investing with Rs 100 first appeared on Rightsofemployees.com.