Investment: With this scheme of post office, make a big fund of 17 lakhs by saving a small amount of 333 rupees..

If you want to create a big fund from small savings, then the Post Office Recurring Deposit (RD) scheme can be a great option for you. This scheme, which starts from just ₹ 100, is not only safe, but the interest received on it is also better than many investment options. The special thing is that if you save just ₹ 333 daily, then you can raise a fund of about Rs 17 lakh in 10 years.

6.7% annual interest guaranteed

Currently, 6.7% annual interest is being received on this RD scheme of the post office. This is a completely government-backed scheme, that is, your money is completely safe in it. Any person, whether an adult or a minor above 10 years of age, can open this account. When the minor becomes an adult, the account can be kept active by filling out KYC and a new form again. This account can now be opened online as well.

In this scheme, the account is opened for five years, but if the customer wants, he can extend it further. That is, after five years, the investment can be continued for another five years. If you want to close the account if needed, then the facility of pre-mature closure is also available after three years. In case of the death of the investor, the nominee can not only claim the amount, but can also run the account further.

It is important to keep in mind the dates of deposit.

In this scheme, it is necessary to invest on a fixed date every month. If the account is opened before the 16th of the month, then the next installment has to be deposited by the 15th of every month. If the account is opened on or after the 16th, then the deposit can be made from the 16th to the last working day of the month.

A loan facility is also available.

Another advantage of Post Office RD is that after investing regularly for a year, you can also take a loan of up to 50% of your deposited money. Only 2% additional interest will have to be paid on this. This facility is very beneficial for those who want to raise funds without breaking the account when needed.

This is how you can raise a fund of 17 lakhs.
If you save ₹333 daily, then this amount becomes ₹10,000 in a month. The total investment in five years will be ₹6 lakh, on which you will get ₹1.13 lakh interest. But if you extend this investment for the next five years, then the interest on the total investment of ₹12 lakh will become ₹5.08 lakh. That is, in 10 years, you will get a total of ₹17,08,546.

If your savings are less and you can invest only ₹5,000 per month, then in 10 years this amount can reach ₹8.54 lakh, which will include ₹2.54 lakh as interest.

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