Safe Investment Alert: Build Rs 2.1 Lakh Corpus Through Monthly Deposits
Central Scheme: Get a lump sum of ₹21 lakh by depositing just ₹1500! The central government has launched a great scheme for the public, where can you get the form?
Central Scheme
India Post provides safe investment options. Besides savings accounts, it offers RD, PPF, KVP, TD, and MIS schemes. Here's a detailed look at the Post Office RD scheme.
Recurring Deposit
What is a Recurring Deposit (RD)? It's a savings plan where you deposit a fixed amount monthly. It's a great way to build a large fund through regular, disciplined savings.
Post Office
How much interest does the Post Office give? Currently, the Post Office RD scheme offers an annual interest rate of 6.7%. Minimum monthly deposit: ₹100
Savings Account
A post office savings account is required. A major plus is the loan facility, available after 1 year. Get up to 50% of your deposit as a loan, with flexible repayment.
Post Office RD
The Post Office RD term is 5 years, extendable for another 5. Depositing ₹3500 monthly for 60 months totals ₹2,10,000. With 6.7% interest, you'll get about ₹2,49,776.
Central Scheme
This means you'll get about ₹39,776 as interest. The Post Office RD scheme is a reliable option to build a regular savings habit and meet future financial goals.
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