Post office: Just as it's important to work hard and earn, it's equally important to invest your earnings wisely. That's why many people are now looking for risk-free investment options that offer good returns.
Investors are now favoring government-backed schemes for their risk-free, guaranteed returns. The Post Office Recurring Deposit (RD) is a top choice, letting you start small and build a large sum.
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How does the RD scheme work?
Deposit a fixed amount monthly for 5 years. You'll earn interest on your deposits, which compounds quarterly. The current annual interest rate is 6.7%, reviewed by the government.
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If you deposit Rs 20,000 every month..
Depositing Rs 20,000 monthly for 5 years totals a Rs 12 lakh investment. At 6.7% interest, you'll earn about Rs 2.27 lakh, getting back Rs 14.27 lakh. It's a stable return.
Backed by the Indian government, your money is safe. The interest rate is fixed for the term. A loan facility is available. After 5 years, you can withdraw or extend the account.
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Tax benefits and account details
Opening an RD account is easy; start with just Rs 100 at any post office. You can get tax benefits under Section 80C. It's a safe, reliable option for risk-free returns.
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