The Post Office Recurring Deposit (RD) plan is a great option for those wanting to accumulate a substantial amount from small savings. By contributing Rs 333 daily, amounting to approximately Rs 10,000 each month in this plan, you could achieve returns surpassing Rs 17 lakh over a decade.
This investment plan is safe and risk-free, providing benefit
This investment plan is safe and risk-free, providing the benefit of compound interest at a rate of 6.7%. The RD plan at the Post Office is completely safe. The government ensures investment in it, making it a secure option. You can initiate a recurring account in the Post Office Savings Scheme with just Rs 100 monthly. It can be utilized individually or collectively.
Designed for a period of 5 years
This plan is designed for a period of 5 years, but it can be extended up to a maximum of 10 years. Currently, this plan offers a 6.7% compound interest rate, assessed at the end of each quarter.
Build your savings with ease – Start Recurring Deposits at India Post!
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Make a daily contribution of 333 rupees, reaching about 10 thousand rupees monthly. Your annual deposit total will be 1.20 lakh rupees. Therefore, the total deposit amount after 5 years will be 5,99,400, for which you will receive interest of 1,15,427 rupees. Consequently, your grand total will amount to 7,14,827 rupees. If you extend the investment for 5 years, your deposit will reach 12,00,000 rupees in 10 years. You will earn roughly 5,08,546 rupees in interest on this, increasing your total to 17,08,546 rupees.