Post Office Scheme | Great scheme of Post Office, you will get fund of Rs 16 lakh on investment of just Rs 5,000
Post Office Scheme Investors are in charge of good investment plans. Investors are looking at how to maximize returns. If you also want to create a big fund by making small investments, then post office schemes will be beneficial for you. Small savings schemes of post offices are very popular among the people. One such scheme of Post Office is Recurring Deposit which provides attractive returns while securing your investment. You can earn lakhs of rupees by making small savings every month.
money 100% safe
Your money will be 100% safe in this RD scheme of the post office. You will also get big returns. You can raise funds up to Rs 8 lakh by investing just Rs 5,000 every month. You can get a huge amount of Rs 16 lakh by raising Rs 10,000. Post office deposits are guaranteed by the Government of India. All the money you invest is protected by the post office. On the other hand, only a maximum of Rs 5 lakh is safe on deposits in banks.
There is no investment limit
The Post Office has a Recurring Deposit RD Scheme which encourages small savings. Even if the tenure of the plan is 5 years, you can extend it for another 5 years. A minimum of Rs 100 will have to be deposited every month in Post Office RD. There is no limit on maximum investment. This can give excellent returns. This scheme offers an interest rate of 6.7%. With this, interest will be paid at compound interest rate. Both single account and joint account facilities are available in RD.
compound interest
If you deposit Rs 5,000 every month in the post office, you will get Rs 8,54,272 on maturity in a period of 10 years. Post Office RD currently offers an annual interest rate of 6.7%. Interest is paid on compound basis on quarterly basis.
There may be a fine
If the amount is not deposited within the stipulated time, a penalty will have to be paid. For every Rs 100, it will be Re 1. This means that if you are unable to deposit any premium, you will have to pay a penalty of 1%. If you do not pay the premium 4 times, your account will be closed.
Loan facilities
Facility to take lump sum loan up to 50% of the deposited amount after one year has also been provided. It can be repaid in lump sum with interest. Not only this, this account can also be transferred from one post office to another. You can also deposit the installment online through IPPB Savings Account.
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