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Post Office RD Scheme: Good News! Invest Rs 7000 Monthly and Get Rs 499560 on Maturity, Check How

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Harsh
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Post Office RD Scheme

Post Office RD Scheme: The Post Office National Savings Recurring Deposit (RD) scheme is a popular investment option in India, especially for those seeking a safe and secure way to grow their money regularly. Backed by the government, the scheme offers attractive interest rates compounded quarterly, making it a good fit for your long-term financial goals.

Here's a breakdown of the key features of the Post Office RD Scheme:

Investment Flexibility

  • Minimum Investment: Start small with a minimum monthly deposit of just Rs.100.
  • Maximum Investment: There's no upper limit on how much you can invest, allowing you to increase your deposits as your savings grow. Conveniently, you can increase your deposits in multiples of Rs.10.

Opening an Account

  • Visit your nearest post office branch.
  • Make the initial deposit in cash or cheque.
  • Subsequent deposits need to be made by the 15th of each month to maintain a disciplined savings habit.

Maturity and Withdrawal

  • The RD account matures after 5 years (60 monthly deposits).
  • Premature withdrawal is allowed after 3 years, but with a lower interest rate applicable.
  • Upon maturity, you can choose to continue the RD for another 5 years.

How Money Grows with Post Office RD Scheme

Let's understand how your investment grows over time with the Post Office RD scheme using an example:

Monthly RD Deposit Number of Months RD Interest Rate Total Interest Earned Deposited Amount Total Maturity Amount
Rs 7000 60 (5 years) 6.7% Rs 79,560.8 Rs 4,20,000 Rs 4,99,560.8

Other High-Interest Small Savings Schemes (April-June 2024)

Looking for alternative options? Here's a comparison of other government-backed small savings schemes offering competitive interest rates:pen_spark

Scheme Name Interest Rate (%)
Sukanya Samriddhi Account Scheme 8.2
Senior Citizen Savings Scheme 8.2
National Savings Certificate (VIII Issue) 7.7
Kisan Vikas Patra 7.5
Mahila Samman Savings Certificate 7.5
Monthly Income Account 7.4
5 Year Time Deposit 7.5

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

Post Office RD Scheme