Through the post office scheme, you can collect lakhs of rupees in less investment. The post office offers the facility of many such small savings schemes. We are going to tell you about one such scheme, in which an initial investment of Rs 100 can generate 2 lakh funds.
Post office schemes are such, in which good returns are available in little investment. By investing a few rupees in these schemes, a good amount of fund is collected over time. The post office also provides the facility of many such small savings schemes. One of these schemes is the Post Office Reccuring Deposite Account Scheme. According to the official website of the post office, investors have to invest only Rs 100 every day in this scheme. And in about 5 years a fund collection of more than Rs 2 lakh is done.
Start with an investment of Rs 100
If you are also interested in post office schemes and wish to invest, then Recurring Deposit Scheme can be the best option for you. In this scheme, an annual interest rate of 5.8 percent is available. Investors can easily open an account with an investment of just Rs.100. After that investment has to be made in multiple of 10-10. Let us tell you that there is no limit to invest in this scheme, investors can deposit money as per their wish. If the investor invests 100 rupees every day, then an amount of about 3000 rupees is deposited every month. Accordingly, this amount goes up to Rs 2.10 lakh in the entire 5 years. The total amount of interest is Rs 29,089.
Loan facility is available
In this scheme, both single and joint accounts can be opened. The scheme takes 5 years to mature. Not only this, investors can also take loans on the basis of this scheme. You can avail a loan of up to 50% of the amount you deposit after completing 12 instalments. Although the interest rate of the loan is more than 2 percent.
