In today’s time everyone wants to earn big money. If you also want to make a big fund by making big investments, then small savings schemes of post office are quite popular. Through this you can earn big money. One such scheme of the post office is Recurring Deposit (RD). Your money will be 100% safe. That means there is no danger of any kind. The amount of money you will invest. You will get more returns than that. By investing just Rs 5000 every month, you can earn a huge amount of up to Rs 8 lakh. At the same time, by depositing Rs 10,000, a huge fund of Rs 16 lakh can be prepared.
Let us tell you that there is a sovereign guarantee of the Government of India on the post office deposits. Whereas a maximum amount of Rs 5 lakh remains safe on deposits in banks. In this way, a fund worth lakhs can be created by investing small savings every month.
Earn big money from Post Office RD Scheme!
Post Office Recurring Deposit (RD) is one such scheme. Which promotes small savings. Although its maturity is 5 years, but you can extend it for another 5 years also. At least Rs 100 should be deposited every month in the post office RD. There is no maximum limit on investment. Through this you can get excellent returns. Under this scheme, 6.7 percent interest is being given. Also you will get interest at the rate of compound interest. RD offers both single account and joint account facilities.
Create a fund of Rs 8 lakh like this
If you deposit Rs 5,000 every month in Post Office RD. So you will get Rs 8,54,272 on maturity in a period of 10 years. At present 6.7 percent annual interest is being given on Post Office RD. Interest is compounded on quarterly basis. If the deposit is not made on time, a fine has to be paid. It will be Re 1 for every Rs 100. This means that if you do not pay any installment, you will have to pay a penalty of 1%. At the same time, if you do not pay the installment 4 times, your account will be closed.
Loan facility available
A lump sum loan of up to 50% of the deposit amount after one year is also provided. Which can be paid in lump sum along with interest. Not only this, this account can also be transferred from one post office to another. It can also be deposited online through IPPB savings account.
