Great returns on your savings money, 16 lakhs profit on saving 10 thousand

Post Office Recurring Deposit: The most important thing about post office scheme is that it provides better returns even at low risk. The recurring deposit of the post office is also one of these. Up to 100 rupees can be invested in this scheme.

If you are looking for a completely safe investment, you do not want to take any risk on your investment, then post office can be a better option for you. You also get better returns in post office schemes. Small saving schemes of the post office are better. Investing with low cost also gives better returns. One such post office scheme is named - Post Office Recurring Deposit where you get much better returns than any other scheme.

What is Post Office RD Scheme?

Overall, through this scheme you can start investing with very little money. Apart from this, your money will also be completely safe. You can start with 100 rupees investment per month month. There is no limitation of maximum investment amount. Post office RD deposit account is a government guarantee scheme of depositing small installments with better interest rate.

What will be the given interest rate?

Minimum active period of the RD is for 5 years. At every quarter month(at the annual rate), interest is calculated on the money deposited. Then it is added to your account with compound interest at the end of every quarter. According to the India Post Office website, currently 5.8 percent interest is being given on RD scheme. The central government announces interest rates every quarter in all its small saving schemes.

If you invest 10 thousand rupees, you will get more than 16 lakhs
If you invest 10 thousand rupees every month in RD scheme of post office, that too for 10 years, then it will get Rs 16,26,476 lakh on maturity.