In today’s modern age everyone wants to earn big. If you also want to make a big fund by investing big, then today we are telling you about a good scheme of post office. This is the Recurring Deposit (RD) of the Post Office i.e. Postal Department. In this your money will be 100% safe. That means there is no risk whatsoever.
Please note that Post Office Deposits have a sovereign guarantee of the Government of India. Whereas, deposits in banks are protected only up to a maximum of 5 lakhs. In this way, by investing small savings every month, you can build a fund of millions.
Post Office Recurring Deposit (RD) is one such scheme. which encourages small savings. Although it has a maturity of 5 years, you can extend it to 5-5 years. A minimum of 100 rupees has to be deposited every month in the RD of the post office. There is no maximum investment limit in this. By this, great returns can be achieved. 5.8 percent interest is being given under this scheme. Along with this, interest will be earned at the rate of compound interest. Both single account and joint account facility is available in RD.
In 10 years Rs. 10,000 will be available, Rs. 16 lakhs more
if you deposit Rs 10,000 every month in Post Office RD. Then on maturity you will get Rs 16.28 lakh. You have to deposit for 10 years. Currently Post Office Rd is getting 5.8 percent annual interest. Interest is compounded quarterly.
Penalty There
is provision of penalty for not depositing on time. It will be Rs 1 for every Rs 100. That is, if you are unable to deposit any installments, you will have to pay 1% penalty. At the same time, your account will be closed if you do not pay the installments for 4 times.
Loan facility
One time loan facility up to 50% of the deposit amount is also provided after one year. which can be paid together with interest. Not only this, this account can also be transferred from one post office to another post office. It can also be deposited online through IPPB savings account.
