RD Scheme: Deposit ₹2,000 monthly to get around ₹1.42 lakh; here is the full calculation for the Post Office scheme.

RD Scheme: How much money will you receive after 5 years by depositing ₹2,000 monthly in the Post Office RD scheme? Find out the interest rate, maturity amount, and the complete calculation for this scheme here.

RD Scheme: If you wish to build a substantial fund through small monthly savings, the Post Office Recurring Deposit (RD) scheme is an excellent choice for you. By depositing a fixed amount every month under this government scheme, you will receive a handsome sum—including interest—after 5 years. A key feature is that this scheme comes with a Government of India guarantee, making the investment completely secure. Currently, the Post Office RD offers an annual interest rate of 6.7%, compounded quarterly.

How much will you get by depositing ₹2,000?

If you deposit ₹2,000 per month in the Post Office RD scheme, your total investment over 5 years will amount to ₹1,20,000. At an interest rate of 6.7%, you will receive approximately ₹1,42,732 upon maturity. This means you will earn a profit of around ₹22,732 from interest alone.

Who can open an account?

Any Indian citizen can open a Post Office RD account. Moreover, an individual can open more than one RD account. Parents can also open accounts in the names of their minor children, and joint accounts can also be opened. This makes the scheme suitable for every family member.

How much can you invest?

You do not need a large sum to start investing in this scheme. You can begin an RD with as little as ₹100 per month and subsequently deposit any amount in multiples of ₹10. There is no upper limit on investment, so you can increase your contribution according to your savings capacity.

When can the account be closed?

The tenure of the Post Office RD is generally 5 years. However, the facility to close the account prematurely is also available, subject to certain conditions. You can also avail of a loan against the RD account if needed, allowing you to meet your financial requirements without liquidating your investment.

What are the benefits?

The Post Office RD scheme is an excellent option for those looking to save money every month. It is unaffected by market fluctuations, and returns are based on a pre-determined interest rate.