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

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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.

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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.