In today’s time, everyone wants to earn a hefty. If you also want to make big funds by investing big, then small savings schemes of the post office are quite popular. Through this you can earn a hefty. One such scheme of the post office is Recurring Deposit (RD). Your money will be 100% safe. That is, there is no danger of any kind. The money you will invest. You will get more returns than that. You can raise a large amount of up to Rs 8 lakh by investing only 5000 rupees every month. At the same time, a thick fund of 16 lakhs can be prepared by depositing Rs 10,000.
Explain that the sovereign guarantee of the Government of India is on the deposit amount of the post office. While the maximum amount of 5 lakhs on the amount deposited in banks is reserved. In this way, millions of funds can be prepared by investing with small savings every month.
Earn big money from the RD scheme of the post office!
Recurring deposit (RD) of the post office is one such scheme. Which promotes small savings. Although its maturity is 5 years, but you can extend it further for 5-5 years. At least 100 rupees should be deposited every month in the RD of the post office. There is no maximum limit of investment. Through this you can get great returns. 6.7 percent interest is being given under this scheme. Also, you will get interest at the rate of compound interest. RD provides both single account and joint account facilities.
How to make 8 lakh funds like this
If you deposit Rs 5,000 every month in the RD of the post office. So you will get Rs 8,54,272 on maturity in a period of 10 years. Post office RD is currently getting 6.7 percent annual interest. The compound of interest is done on a quarterly basis. A fine has to be paid for not depositing on time. It will be 1 rupee every 100 rupees. This means that if you do not pay any installment, then you have to pay 1% penalty. At the same time, your account will be closed if you do not pay the installment 4 times.
Debt facility is available
After one year, a lump sum loan of up to 50% of the deposit is also provided. Which can be paid outright 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.