There are still many such people in the country, in whose homes you will definitely get to see ‘piggy bank’.
There cannot be a better way to make small savings, in such a situation, today you will tell people about a ‘piggy bank’ i.e. saving scheme of the post office.
Where you can deposit Rs 16 lakh on maturity by saving just Rs 333 per day. Small savings schemes of the post office become a big support for the common man in the long run, one such scheme is the “Recurring Deposit Account” (RD) of the post office. At present, in this scheme you get compound interest of 5.8% and you You can start saving in this scheme with a small amount like Rs 100 a month.
In this scheme, if you deposit Rs 333 per day i.e. around Rs 10,000 per month, then your total savings in a year will be Rs 1.20 lakh, after running this account for 10 years, your total deposit amount will be Rs 12 lakh. On this, in 10 years, you will get a total interest of Rs 4,26,476, thus you will get an amount of more than Rs 16 lakh on maturity.
The maturity period of RD is 5 years. But you can extend it further for another 5 years. It is known that almost all the savings schemes of the post office are risk free. Same advantage with RD.
