Post Office RD: Invest Rs 300 Daily, Get Rs 17 Lakh on Maturity

Post Office RD: Get 6.7% annual interest from January 2024. Minimum investment starts at Rs. 100. This scheme is backed by the Indian government. 

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Post Office RD Scheme

The Post Office RD is a savings plan where you deposit small amounts monthly to build a large sum. It works like a bank RD but is safer with a government guarantee. Market fluctuations won't affect your money, making it ideal for stable returns.

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Investment Details & Interest Rate

* Minimum investment: Rs. 100 per month. No maximum limit.

* Interest rate: Currently 6.7% annual compounding interest (effective from January 1, 2024). The rate is revised quarterly.

* Maturity period: 5 years, extendable by another 5 years.

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Saving Rs. 333 Daily

Saving just Rs. 333 daily adds up to about Rs. 10,000 monthly.

5 years: Total deposit: Rs. 6,00,000. Interest: Rs. 1,13,659. Total: Rs. 7,13,659.

10 years: Total deposit: Rs. 12,00,000. Interest: Rs. 5,08,546.

Total: Rs. 17,08,546.

Even with Rs. 5,000 monthly savings, you get Rs. 8.54 Lakhs after 10 years, including Rs. 2.54 Lakhs interest.

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Key Benefits

Security: Government-backed, ensuring your money's safety.Loan facility: Borrow up to 50% of the deposited amount after one year.Premature closure: Close the account before maturity in emergencies, with some interest deduction.

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Who Can Invest?

Anyone can invest individually or via a joint account. Ideal for those seeking stable returns with low risk and planning for future expenses. For details, visit the Post Office official website or your local post office.