Post Office RD Scheme: Daily saving of just Rs 333 and get 1700000… Know about this robust scheme of Post Office

• A return of ₹1.7 million on an investment of ₹333
• Risk free investment, security from Govt
• Here is the math to earn ₹17 lakh

Post Office RD Scheme: Safe investment and good returns are the two main features of Post Office Government Schemes. If you are looking to invest in a scheme, these can be an excellent option. High interest rates offered by the government further increase their popularity. One such scheme is the Post Office Recurring Deposit Scheme, where a daily investment of just ₹333 can fetch a whopping return of ₹1.7 million upon maturity. But how exactly “text-align: justify;”> Today’s Gold-Silver Price: Big update for customers! Gold became cheap, silver fell slightly

Risk free investment, security from Govt

The most unique feature of Post Office Schemes is that any investment, big or small, is completely safe. Simply put, these schemes are considered risk-free savings schemes, as the government itself guarantees the safety of the investment. Post offices operate small savings schemes for all age groups, which also offer excellent interest rates. Hence, the trust in these schemes continues.

So much interest on Post Office RD

Government pays 6.7% interest on investments made in Post Office Recurring Deposit Scheme. Investors can start investing from just ₹100. Minors up to 10 years of age are also allowed to open accounts. But they can do so only with the help of their family members. After turning 18, they can operate the account themselves by filling a fresh KYC and a new account opening application.

5 years term, these rules are important

The tenure of this government scheme is 5 years. As per your wish, you can extend it for another 5 years. Monthly deposit rules under Post Office RD Scheme are different from other schemes. If the account is opened before the 16th of the calendar month, the next deposit equal to the amount of the first deposit shall be made by the 15th of each month and if the account is opened on the 16th of the calendar month and on the last working day, the deposit shall be made from the 16th to the last working day of each month.

Loan at 2% interest in case of premature closure

If you want to close your account before the maturity period is over, this savings plan also offers this facility. You can opt for early termination after three years. After the death of the account holder, the nominee can claim the account and continue it if desired. Additionally, the Recurring Deposit Scheme offers loans to investors. After the account remains open for one year, up to 50% of the deposit amount can be taken as a loan at 2% interest.

Here is the math to earn ₹17 lakh

You can accumulate funds of ₹17 lakhs by saving just ₹333 per day. This math is very simple. If you save this amount every day, your monthly investment will be ₹10,000 per month. Considering the government’s interest rate of 6.7%, if you regularly invest ₹6,00,000 for 5 years, you will earn ₹1.13 lakh in interest by investing a total of ₹6,00,000. Your funds will increase to ₹ 7,13,659. If you extend this for another 5 years, the total deposit will be ₹12 lakh and the interest earned will increase to ₹5,08,546. Now the total fund will be ₹1,708,546. You can choose your investment amount and you will get profit accordingly.

If there should be a boss, he paid salary even if the factory burned down, then he did something that made the employees become millionaires