Post Office RD Scheme: – If you think that a big fund cannot be created by depositing a small amount, then it is wrong. This work can be done very easily. Let us know how this can happen.
The reach of the post office in the country is from village to village. In such a situation, if the RD of the post office is taken advantage of, then a fund of Rs 1 lakh can easily be created.
At present, 6.50 percent interest is being given on the RD of the post office. In such a situation, if an RD of Rs 600 per month is started, then a fund of Rs 1 lakh will be prepared easily.
Post office has RD only for 5 years. But later you can extend it any number of times for 5-5 years. In such a situation, if an RD of Rs 600 is started, then in 5 years a fund of Rs 42,593 will be ready.
On the other hand, if this RD is extended for another 5 years, then a fund of Rs 1.01 lakh will be ready. Here the money deposited from your side will be Rs 72,000. And will get Rs 29,388 as interest.
In this way, a fund of Rs 1 lakh can be created easily by depositing a small amount every month.
In Post Office RD, you can start depositing with a minimum of Rs 100. However, there is no limit on the maximum deposit. That is, you can deposit as much money as you want in it.
At present, 6.5 percent interest is being received on the RD of the post office. But one thing to keep in mind here is that these interest rates are reviewed every 3 months. But once the interest rate at which your RD starts, it will continue to be available till the completion of the RD. Interest on deposits in RD is calculated on the balance at the end of every month.
Advance installment deposit is a major facility available in Post Office RD. You will have to deposit the advance installment of at least 6 months at a time. A rebate of Rs 10 is available for every Rs 100 paid in advance for 6 months at a time. While depositing 1 year’s installment advance simultaneously, a discount of Rs 40 is available for every Rs 100.
