Post Office Scheme: This secret calculation of this post office scheme will make you rich, learn how...

Are you looking to turn your small savings into a substantial corpus? If so, the Post Office Recurring Deposit (RD) scheme could be a great option for you. It's not only safe but also offers guaranteed returns. People often don't realize that with the right plan and regular investment, you can build a corpus of up to ₹10 lakh in 5 years. So, let's explain how the Post Office RD scheme can be a game-changer for you and how you can reach this figure.

What is the Post Office RD Scheme?
The Post Office RD scheme is a small savings scheme in which you deposit a fixed amount every month. It's a kind of fixed deposit, but instead of a lump sum, you pay monthly installments. This scheme is for a period of 5 years and currently offers a government-fixed interest rate (which can change every three months). Currently, it offers an interest rate of approximately 6.7% per annum (this rate is subject to change; please confirm the latest rate with the post office).

Calculation to reach ₹30 lakh (for example):
Let's understand how much you can deposit every month to create a corpus of ₹10 lakh in 5 years.

Suppose the interest rate is 6.7% per annum and you want to have ₹10 lakh after 5 years (60 months).

To achieve this, you will need to deposit a large amount every month.
If you deposit approximately ₹15,000 every month:
Monthly Deposit: ₹15,000
Term: 5 years (60 months)
Total Deposit Amount (Principal Amount): ₹15,000 x 60 months = ₹9,00,000
Estimated Interest (at approximately 6.7%): ₹1,70,492
Total Amount after 5 years: ₹9,00,000 (Deposit Amount) + ₹1,70,492 (Interest) = ₹10,70,492 (10 lakh 70 thousand rupees)

Details Amount / Tenure
Monthly Investment ₹15,000
Investment Tenure 5 years (60 months)
Total Deposit Amount (Principal Amount) ₹15,000 × 60 = ₹9,00,000
Interest Rate: 6.7% per annum
Total Interest Earned: ₹1,70,492
Total Fund After 5 Years: ₹9,00,000 + ₹1,70,492 = ₹10,70,492

This calculation shows that if you deposit ₹15,000 every month, you can earn approximately ₹1,70,492 after 5 years.

You'll be in for a treat even after retirement. The Post Office Senior Citizen Scheme is a great option for earning money. Learn about its 5 major benefits!

Advantages of Post Office RD
Government Guarantee: This is a scheme backed by the Government of India, so your money is completely safe.

Fixed returns: You know in advance how much you will receive after 5 years (assuming the interest rate remains constant).

Small savings into a large fund: This is a great way to convert small monthly savings into a large investment.

Tax benefits: Under certain conditions, tax benefits are also available.
Easy start: You can start an RD with as little as ₹100 per month, with no maximum limit.

Who is this scheme for?
This scheme is ideal for those who want to build a large fund over a fixed tenure and are risk-averse. It is a good option for salaried individuals, small businesses, and housewives who want to grow their savings safely.

Conclusion
The Post Office RD scheme is a reliable and profitable investment option. If you discipline yourself and deposit a fixed amount every month, it is quite possible to build a fund of up to ₹10 lakh in 5 years. By incorporating this into your financial plan, you can ensure a financially secure and strong future. Visit your nearest post office today to learn more about this excellent scheme.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.