Post Office Recurring Deposit: Turn Rs 15,000 Into Rs 10.71 lakh in 5 years; check details

Invest Rs 15,000 in the Post Office Recurring Deposit scheme and earn up to Rs 10.71 lakh. This scheme is suitable for those who want to save small amounts and earn guaranteed returns.

Post Office Recurring Deposit Scheme

Individuals can open single or joint accounts. Parents/guardians can open accounts for children under 10. Minimum monthly deposit: Rs 100. No maximum limit. Maturity: 5 years, extendable by 5 more. Early closure after 3 years.

Recurring Deposit Account

Loans up to 50% of the balance are available after 12 deposits. Returns on monthly investments of Rs 5,000, Rs 10,000, and Rs 15,000 over five years (60 months). Rs 10,000 monthly investment for 5 years yields Rs 7,13,659. Rs 15,000 monthly yields Rs 10,70,492.