Post Office RD Scheme
In today’s time, everyone wants that their savings should be safe and a big fund can be created in future. While there is a fear of fluctuations in the stock market or other investment options, government schemes give people confidence. For this reason, small savings schemes of post office are very popular among the common people. One of these is the Post Office Recurring Deposit Scheme, which helps in creating a big fund from small investments.
What is Post Office RD Scheme?
Post Office Recurring Deposit i.e. RD Scheme is for those people who want to make strong savings for the future by depositing a small amount every month. This is a completely government supported scheme, hence the risk of investment in it is negligible. In this scheme, you can open an account with just Rs 100 and there is no limit on maximum investment, that is, you can increase the amount according to your income.
How will the trap of Rs 25 lakh be prepared?
Now let’s talk about the question that is in everyone’s mind, how will such a big fund be created? If you deposit Rs 15,000 every month in Post Office RD, then in 5 years your deposit amount becomes around Rs 10.7 lakh. In this scheme you get an interest rate of 6.70%.
If you continue this scheme for 10 consecutive years, the picture changes completely. In 10 years, the interest income can reach around Rs 7.5 lakh. Including your total deposit and interest, the fund received on maturity becomes approximately Rs 25.6 lakh. That means regular savings every month can reach you to a huge amount.
Safe investment and good interest
The biggest feature of Post Office RD Scheme is its safety. The money deposited in it is completely safe and the government guarantees it. Along with this, the interest received on this scheme is also considered attractive. This is the reason why employed people, small businessmen and people planning for retirement like this scheme.
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If you have also received a message from Income Tax, then fill your revised return like this, this is the process.
Loan facility will be available
In this scheme, not only investment but also the facility to take loan if needed. If you have operated your RD account for at least one year, you can take a loan up to 50 percent of your deposit amount. The special thing is that the interest rate on this loan is also very low, due to which you can fulfill your needs without much burden.
Easy to open and close account
Opening a post office RD account is very easy. You can open an account by going to your nearest post office. If for some reason you have to withdraw money before the stipulated time, then the facility to close the account is also available. This is why this scheme provides both flexibility and security.