Only ten thousand rupees investment in this government scheme up to 18 lakh income opportunity! Learn the details without delay
This time the Indian Postal Department has come up with an attractive scheme for its customers. Customers will get various benefits in Recurring Deposit Account of Post Office. To get low investment and maturity, you must know about this post office scheme. Many people invest in savings accounts thinking about the security of the deposit. Customers can invest in Post Office Recurring Deposit Scheme from a minimum of Rs 100. Not only this, up to 50% of the deposit balance can be withdrawn within one year of opening the account. There is no limit to the monthly installment in this scheme. However, you have to deposit at least 100 rupees.
The recurring deposit scheme will have a fixed term or like other financial institutions, customers will be able to invest money according to the term. The recurring deposit scheme at the post office can be fixed for five years. The interest rate of Office Recurring Deposit Scheme has been increased. This new interest rate has been in effect since April 1 last year. The post office pays interest on the recurring deposit account at a rate of 5.8 percent. Interest is paid every three months. The center determines the interest at a compounding rate. As a result customers will benefit.
Take a look at a simple calculation of the Recurring Deposit Scheme: Suppose a customer invests Rs. 10,000 per month in a Recurring Deposit Account at the Post Office at an interest rate of 5.8 per cent for only 10 years with a return of Rs. 16 lakhs.
However, there are several things to keep in mind before investing. First of all, remember not to forget the monthly deposit. If no investment is credited for four months, the account will be considered canceled. Although the opportunity to recover the account will be available within two months. If you miss that opportunity, the account will be closed as usual.