Safe Investment Tips: A fund of millions can be prepared in 5 years by saving just 222 rupees daily. A post office scheme is safe, government guaranteed and long -term compounding for small investors. Know the details …
Small Savings Big Fund: Do you know that a little saving can prepare a fund of millions in 5 years. The recording deposit (RD) of the post office is also one such scheme. In this, you can prepare a safe fund of millions in 5 years by saving just 222 rupees every day. In this article, let us know about this scheme and its return in five years …
What is the post office RD?
Post Office RD is a government guaranteed investment option, which is considered safe and reliable for small and medium investors. Your money is safe with the security of the government. Fixed interest rate is fixed on your investment every year and compounding in long -term increases your money rapidly.
How much fund will be made by saving 222 rupees?
In this scheme, if you save 222 rupees every day, then this amount (222 × 30) is made 6,660 rupees in a month. On depositing this savings for five years i.e. 60 months, the total amount becomes about Rs 3,99,600. If it gets an interest of about 6.7% annually, then you can make Rs 4,50,000 in 5 years with compounding. If you continue RD with continuous investment and discipline, a period of 5 years can increase to a fund of up to 11 lakhs. This is the biggest advantage for small investors.
Post office rd specialty
- You can start with just 100 or 222 rupees.
- RD is for 5 years, it can also be increased if needed.
- Namini can be put in it, can open a joint account and there is also the facility to withdraw money after 3 years.
- After depositing 1 year, you can take a loan of up to 50%, only 2% additional interest will have to be paid.
- If any installment is left, then 1% per month penalty will be imposed and the account can be closed if 4 consecutive installments are not filled.
Post Office RD is right for you?
- If the government is guaranteed, then there is a safe investment.
- There is a big advantage from small investment, that is, a fund of millions can be prepared from Rs 222 every day.
- Compounding increases money rapidly and provides benefits in long term.
- Children have names, joint accounts or investment facilities.
How to start investing in post office RD?
- Go to your nearest post office or open an online RD account.
- Set the amount of Rs 222 daily or as per your convenience.
- Submit every month with displeyan.
- Get safe funds of your dreams after 5 years.
Also read- Know these 5 important things before investing in mutual funds, returns will come tremendous