Turn Rs 100 a day into Rs 2 lakh: All about Post Office RD scheme
Investing just Rs 100 daily in the Post Office Recurring Deposit (RD) scheme can help you build a corpus of over Rs 2 lakhs over a specific period.
FollowPost Office Recurring Deposit Scheme
Looking for a low-risk investment to build substantial savings? The Post Office Recurring Deposit (RD) scheme offers a secure way to grow your finances with small, regular contributions.
Post Office Scheme
The Post Office RD scheme is designed for all income levels. To reach a Rs 2 lakh corpus, invest Rs 3,000 monthly, achievable by saving Rs 100 daily.
Recurring Deposit
A monthly Rs 3,000 RD deposit over five years totals Rs 1,80,000. With a 6.7% interest rate, the maturity amount reaches Rs 2,14,097, earning Rs 34,097 in interest.
Post Office RD Scheme
Extend your RD account for another five years at the same interest rate after the initial five years. Premature closure is possible after three years, but the interest rate will be reduced to the savings account rate (4%).
Recurring Deposit Scheme
Borrow up to 50% of your RD balance after 12 months of deposits. The loan interest rate is 2% higher than the RD interest rate.
Post Office RD Interest Rate
The Post Office RD scheme is ideal for consistent saving without market volatility worries, offering a risk-free path to steady financial growth.
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