In Post Office Recurring Deposit Saving Scheme, the account can be closed after 3 years of opening. At the same time, after one year of starting the investment, loan facility of up to 50 percent is also given.
If you want to get good returns by investing and are looking for a safe investment, then this news is for you. Actually, Saving Schemes of Post Office can be the right choice in this case, because investment in it is considered safe. Many schemes of Post Office are quite popular among the people. One of these is Recurring Deposit Plan (Post Office Recurring Deposit) which not only guarantees security but also gives excellent returns.
Government has increased the interest rate
Recently, the Central Government has revised and increased the interest rates offered to investors on this savings scheme of the Post Office. The government has increased the interest rate from 6.2 percent to 6.5 percent for the July-September quarter. That means the interest rate of Post Office Recurring Deposit Scheme has been increased by 30 basis points. In such a situation, investing in this saving scheme is now proving to be even more profitable.
You can start investing from Rs 100
It is noteworthy that the Central Government revises the interest rates of its savings scheme on a quarterly basis. You can invest in Post Office Recurring Deposit Scheme for a period of one year, two years or more as per your convenience. The minimum age limit for taking this scheme has been fixed at 18 years, that is, anyone above this age can invest. Family members can open it in the name of their minor children, otherwise the facility to open a joint account is also provided. By opening an account in this scheme, you can start investing with just Rs 100. Now one can invest in it for 10 years.
You can deposit money for 10 years
The money invested in this government scheme remains completely safe and the interest is also better. A huge fund can be accumulated by investing a fixed amount every month for 10 years. However, the interest rates of Post Office Recurring Deposit Scheme as well as other savings schemes are revised every three months, so they may increase or decrease. But if the current interest rate remains stable, then by depositing Rs 5,000 every month, an investor can get Rs 8 lakh in 10 years.
This is the complete calculation of interest
If you look at the calculation, if you deposit a fixed amount of Rs 5,000 every month in the recurring deposit account of the post office and continue this trend for 10 years, then the interest received on your deposit at the current rate of 6.5 percent would be Rs 2.46 lakh. Is. The total amount deposited by you will be Rs 6 lakh. According to this, you will get Rs 8.46 lakh after 10 years. Now in the meantime, if the government revises and increases the interest rates, then the interest you get will also increase accordingly and you will get more money.
Loan facility to the account holder
In Post Office Recurring Deposit Scheme, the account can be closed after 3 years of opening. At the same time, after one year of starting the investment, loan facility of up to 50 percent is also given. In simple words, if a person deposits the installments for 12 months after opening an account in this scheme, then on the basis of this he can get a loan from the banks. In this scheme, you can take half the amount of your total deposit as loan.