New Delhi: Everyone plans to invest in avenues that offer excellent future returns while ensuring capital safety, allowing investors to remain worry-free. Post Office schemes, backed by one of India’s most trusted institutions, are an excellent choice. Here, we introduce a scheme that can serve as a financial pillar during your retirement years; it simply requires making regular investments through small daily savings.
For instance, if you invest ₹300 daily, your monthly contribution (based on a 30-day month) would amount to ₹9,000. By consistently investing this amount in the Post Office Recurring Deposit (RD) scheme for five years, you can build a substantial corpus. This presents a golden opportunity to invest in the Post Office RD scheme without any hassle.
How much will the Post Office RD yield?
By making small monthly savings, individuals can build a significant investment. After all, investing in the right place allows one to accumulate a substantial sum. Saving ₹300 daily enables a monthly deposit of ₹9,000. If you invest this amount in the Post Office Recurring Deposit scheme continuously for five years, your deposited money will grow with the addition of interest.
Saving ₹300 daily allows for the creation of a large fund after five years. The Post Office Recurring Deposit scheme currently offers an annual interest rate of 6.7%. However, please note that interest rates are subject to quarterly revision.
What will the total investment amount to at ₹9,000 per month?
If you save ₹300 daily for the Post Office Recurring Deposit scheme, your monthly investment will total approximately ₹9,000. Depositing ₹9,000 per month into the Post Office RD scheme over five years (60 months) results in a total deposited amount of ₹5.40 lakh. The interest earned on the Post Office Recurring Deposit (RD) scheme adds to your investment, resulting in a total maturity amount that exceeds your actual deposits.
Maturity Amount After 5 Years
The Post Office Recurring Deposit scheme offers substantial returns after five years. Based on the current interest rate of 6.7%, an RD with a monthly instalment of ₹9,000 would yield a maturity amount of approximately ₹6.42 lakh after five years. Of this total, your actual investment would be around ₹5.40 lakh, while the interest earned would amount to approximately ₹1.02 lakh. The prevailing interest rate is 6.7%.
Start an RD with as Little as ₹100
You can begin investing in the Post Office RD scheme with a minimum amount of just ₹100, and the contribution amount can be increased thereafter. Individuals can set their monthly instalment based on their personal savings capacity. For instance, if you have the capacity to save ₹300 daily, you can build a substantial fund over five years by regularly investing that amount instead of spending it.
