PERSONAL FINANCE
Invest in Post Office RD scheme for safe and high returns.
Post Office RD Scheme: The Post Office has become a reliable and trustworthy option for the salaried middle class in India who seek to invest their hard-earned money in safe options that offer good returns. Among the variety of schemes offered, the Post Office Recurring Deposit Account stands out as an excellent alternative to bank FDs and RDs due to the high returns it offers.
Anyone over the age of 10 can open a Post Office RD account, and it's simple to do so. Depositors can increase their monthly contributions by multiples of Rs 10 each month, with a minimum monthly deposit of Rs 100. The Post Office RD offers a 5.8% interest rate, which is determined by the government every quarter.
Those who want to regularly invest small sums of money can consider the Post Office RD plan. The safety and security of the original amount and the interest accrued over time is one of the major benefits. For people who desire stability, it is an appealing choice because the risk is comparatively low.
The account matures after five years or 60 months from the opening date, whichever comes first. A year after the account has been opened, depositors may also withdraw up to 50 per cent of their amount. Depositors can also borrow up to 50 per cent of their deposits after one year of creating the account.
At the present interest rate of 5.8 per cent, an investor can earn almost Rs 16 lakh in returns by investing Rs 10,000 each month, or about Rs 333 every day. With a total deposit of Rs. 12 lakh for ten years and a projected return of Rs. 4. 26 lakh, the total return will be Rs. 16. 26 lakh. Every three months, the compound interest is calculated, providing investors with regular returns.
Investing in the Post Office RD scheme can help you build a secure financial future, regardless of how much money you can afford to invest. With its reliable returns and government-backed guarantee, it's a smart option for anyone looking to grow their savings over time.
Maharashtra: Stage set for assembly poll results; Mahayuti, MVA confident of their victories
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...
WATCH: Woman makes Biryani with Parle-G biscuits, viral video fumes internet
Only train in India in which passengers can travel for FREE; check route, timings and more