Post Office Saving Scheme - If you also want to make a good fund by making a big investment, then this news is for you. Actually, let us tell you that for this, Post Office Small Savings Schemes are an excellent option. In this, you can create a fund of lakhs by spending only five thousand rupees without any risk.
(Post Office Scheme) In today's economic era, everyone is trying to earn big money. If you also want to make a good fund by making a big investment, then Post Office Small Savings Schemes are an excellent option.
Your money is completely safe in the Post Office Recurring Deposit (RD) scheme, so you do not face any kind of risk. You get a good return on the amount invested.
For example, if you invest Rs 5000 every month, you will get an amount of about Rs 8 lakh. On the other hand, if you deposit Rs 10,000 every month, you can create a huge fund of up to Rs 16 lakh. This scheme is a safe option for your future. (Recurring deposit)
Please note that there is Sovereign Guarantee of Government of India on post office deposits.
Whereas, the maximum amount of money that is safe on deposits in banks is only Rs. 5 lakhs. In this way, by investing small savings every month, you can create a fund of lakhs.
Earn big money from Post Office RD scheme-
Post Office Recurring Deposit is a scheme that promotes small savings. Although its maturity period is 5 years, you can extend it for 5-5 years. At least Rs 100 has to be deposited every month in the RD of the post office.
There is no maximum investment limit in this. Through this, excellent returns can be achieved. 6.7 percent interest is being given under this scheme. Along with this, interest will be given at the rate of compound interest. Both single account and joint account facilities are available in RD.
Create a fund of 8 lakhs like this-
If you deposit Rs 5,000 every month in a post office RD, 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. The compounding of interest is done on a quarterly basis.
A penalty might be imposed-
If you do not deposit the installment on time, you will have to pay a penalty. This will be Rs 1 for every Rs 100. This means that if you are unable to deposit any installment, you will have to pay a penalty of 1 percent. If you do not pay the installment 4 times, your account will be closed.
Loan facility is available-
After one year, this account offers a one-time loan facility of up to 50 percent of the deposited amount, which can be repaid in lump sum along with interest.
Apart from this, it is possible to transfer this account from one post office to another. This facility is provided through IPPB savings account, through which users can also deposit installments online. These facilities make savings more flexible and useful.
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