PO Scheme: You will accumulate Rs 35 lakh in just 5 years, this powerful scheme of the post office is amazing..

There is no maximum deposit limit in the Post Office RD scheme, meaning you can deposit as much as you wish. Its interest rate is 6.7%, which is better than many bank FDs. This scheme ensures safe and minimal risk.

If you invest ₹50,000 every month, your total deposit will reach approximately ₹30 lakh in 5 years. Additionally, with 6.7% interest, you will receive an additional ₹5.68 lakh in 5 years. This means you will have a total of approximately ₹35 lakh in 5 years.

Minors above 10 years of age can also open an account under this scheme with the help of their parents. When the child turns 18, they will need to complete a new KYC. You can also open it through mobile banking or internet banking, making it very easy and convenient.

You must deposit your monthly installment by the due date each month. If the account is opened in the first fifteen days of the month, the next installment must be paid by the 15th. If it's opened later, you can deposit the installment from the 16th until the last working day. This helps keep your savings regular and disciplined.

If your account is at least one year old and you've made regular deposits for 12 months, you can take a loan of up to 50% of the deposit amount. Interest is charged at an additional 2% on the loan rate. You can repay the loan in installments or in one go, ensuring you're not stuck in emergencies.

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