Post Office Saving Scheme: Deposit ₹333 daily and get ₹17 lakh! Know this scheme of post office

Post Office Best Saving Scheme: The post office runs several small savings schemes and one of them is Recurring Deposit i.e. RD, in which you can open your account by investing just Rs 100 per month.

Post Office Saving Scheme: Everyone saves some part of their income and wants to invest it in a place where their money is safe and they get a good return. There are many ways of saving, usually ‘Gullak’ is seen in homes to collect daily savings and not only children but even adults keep putting small amounts in it. Today we are telling you about one such government piggy bank, in which you can deposit an amount of Rs 16 lakh by putting Rs 333 every day. Yes, we are telling you about the Post Office Recurring Deposit Scheme, which is a piggy bank that gives huge returns to investors.

You will get Rs 16 lakh in 10 years

Many types of options are seen for saving especially in middle class homes in the country, piggy bank is also included in these. But, the Post Office Gullak that we are talking about, you can save a sum of Rs. 16 lakh in just 10 years by saving small amounts every day. Many types of small saving schemes are run in the post office and among them the Recurring Deposit Scheme i.e. RD is special. In this, the government also gives excellent interest.

Account opens with Rs 100, interest is this much

In this Recurring Deposit account (RD), included in the best small savings schemes of Post Office, you can open your account by investing Rs 100 per month. Facility to open single or joint account is also given in this. If we talk about interest, then at present a strong compound interest of 6.7 percent is being given on this scheme and this new interest rate is applicable from January 1, 2024.

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Investment in RD is a risk free investment

All other savings schemes of Post Office are risk free and there is absolutely no risk in RD investment. The government itself guarantees security on investment in this. But in this Small Saving RD Scheme which has great benefits, you will have to remember to invest every month at the right time, because if you forget to invest the installment in any month, then you will have to pay a penalty of 1% per month and if you miss 4 consecutive installments, then this account gets closed automatically. The maturity period of this scheme is 5 years.

This is the math to raise Rs 16 lakh

Now let’s talk about how you can raise Rs 16 lakh by investing in this piggy bank of the post office. So its calculation is very easy, let us tell you that if you put Rs 333 daily in this scheme, then according to this, this amount becomes about Rs 10,000 every month. Meaning, by doing this you will save Rs 1.20 lakh every year. That is, in the maturity period of five years, you will deposit Rs 6 lakh, now if we look at the compound interest at the rate of 6.7 percent, then it will become Rs 1,13,659, that is, your total amount will become Rs 7,13,659.

The maturity period in Post Office Recurring Deposit may be 5 years, but you can extend it for another five years. That is, you can take advantage of this piggy bank for up to 10 years. Now in 10 years the amount deposited by you will be Rs 12,00000 and the interest received on it will be Rs 5,08,546. Now after 10 years, after adding the interest, you will get a total amount of Rs 17,08,546.

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The post Post Office Saving Scheme: Deposit ₹333 daily and get ₹17 lakh! Know this scheme of post office first appeared on informalnewz.

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