Invest Rs 5,000 monthly in Post Office RD and get Rs 8 lakh in 10 years!

Post Office small savings schemes are ideal for safe returns. Recurring deposits (RD) stand out, allowing substantial fund growth. Rs 5,000 monthly yields around Rs 8 lakh in a decade. Access to loans increases flexibility.

Post Office Schemes

In 2023, the government increased the post office RD interest rate, benefiting investors. Fixed at 6.7% for October-December 2023, it is revised quarterly. Interest accrues annually, ensuring steady savings growth.

High Returns

A monthly deposit of Rs 5,000 yields Rs 3 lakh in five years. With 6.7% interest, the total interest earned is Rs 56,830, taking the total to Rs 3,56,830. Extending the RD for another five years takes it to Rs 8,54,272 with an interest of Rs 2,54,272.

Recurring Deposit

This scheme allows premature withdrawals and offers loan facilities. Open an RD account with as little as Rs 100. Though the maturity period is five years, it can be closed early. After a year, borrow up to 50% of the deposit amount at an interest rate of 2% above the RD rate.

Best Savings Plan

Post Office RD is a smart, safe investment for steady savings growth. Flexible amounts, good returns, and loan options ensure financial stability while minimizing risk. Extending to ten years maximizes long-term wealth.