Post Office: Post Office offers a fantastic scheme; you can earn ₹6 lakh just from interest...

Many types of government schemes are running in the country. One of them is investing in the post office. The post office offers several schemes that not only secure your money but also provide excellent returns. Today, we are going to tell you about one such post office scheme where you can create a fund of Rs. 20 lakh by saving just Rs. 400 per day. The most special thing about this scheme is that you will receive more than Rs. 6 lakh as interest on your deposited money.

The government revises the interest rates on post office and other government savings schemes every three months. Similarly, the government has set an interest rate of 6.70 percent on the Post Office Recurring Deposit Scheme. Under this scheme, you can open an account with as little as Rs. 100.  Now that we've discussed the interest, let's tell you how you can create a large fund with this scheme.

Investing Rs. 400 will create a Rs. 20 lakh fund

Under this post office scheme, you can create a fund of Rs. 20 lakh by investing just Rs. 400 per day. According to the Post Office RD calculator, an investor who saves Rs. 400 daily will invest approximately Rs. 12,000 per month. If the investor continues this investment in the RD scheme for the next 5 years, the amount will grow to more than Rs. 8 lakh. If this is extended for another 5 years, your deposited amount will increase to approximately Rs. 14.40 lakh. The special thing is that you will receive approximately Rs. 6.10 lakh as interest on your investment. So, including the interest, your daily investment of Rs. 400 can create a fund of Rs. 20 lakh. This means you will receive more than Rs. 6 lakh in interest through this scheme.

Other benefits

The biggest advantage of investing in any government scheme is that your money is completely secure. This means your money is safe and won't be lost. Also, under this scheme, you can avail a loan against your deposited amount after a certain period. If you maintain your account for a year, you can take out approximately 50% of your deposited amount as a loan. Furthermore, you can close the account prematurely at any time after three years. This means that if you decide you no longer want to invest in this scheme, you can withdraw your money along with the accrued interest after three years.

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