Post Office RD Account: How Much Will You Get on Maturity If You Deposit ₹2800 Every Month in Post Office RD Scheme?
Post Office RD Account: Investment and Returns Breakdown
The National Savings Recurring Deposit Account (Post Office RD Account) is a secure investment option offered by the Post Office, providing a fixed return over a five-year tenure. Currently, this scheme offers an annual interest rate of 6.7%, compounded quarterly.
Monthly Investment and Maturity Calculation
If you deposit ₹2800 every month in the Post Office RD Scheme, let’s analyze how much you will receive at maturity:
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Total Monthly Deposits Over 5 Years: ₹2800 x 60 months = ₹1,68,000
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Applicable Interest Rate: 6.7% per annum (compounded quarterly)
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Total Maturity Amount: ₹1,99,824.32
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Total Interest Earned: ₹31,824.32
This means, after 5 years, your investment of ₹1,68,000 will grow to ₹1,99,824.32 with an interest gain of ₹31,824.32.
Benefits of Post Office RD Account
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Guaranteed Returns: The scheme offers stable returns with no market risk.
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Government Backing: Being a government-backed scheme, your money is completely secure.
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Quarterly Compounded Interest: Ensures better growth of your investment over time.
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Flexible Investment: A minimum deposit of just ₹100 per month makes it accessible to all investors.
Conclusion
The Post Office RD scheme is a great option for individuals looking for safe and fixed returns over a medium-term horizon. With an investment of ₹2800 per month, you can accumulate ₹1,99,824.32 in 5 years, making it a smart and secure saving option.
