Post Office: A very good scheme has been launched by the post office and if you save some money every month and want to invest it safely, then the Recurring Deposit (RD) scheme by the post office is going to be the best option. The most special thing about this is that your money is completely guaranteed safe and you can also get very good returns and the support is done by the Government of India itself and there is no risk of any kind.
By making a recurring deposit of ₹ 8000 every month, you will get 570929 in return after 5 years and you are going to deposit about 480000 rupees and ₹ 90929 will be given as a return. You are going to get a return at an interest rate of 6.7.
What Is the Recurring Deposit (RD)
It is a monthly saving income scheme launched by the post office. Through the scheme, you deposit the fixed amount every month and on completion of the maturity date, you are given the entire money at the interest rate of 6.7 and it is supported by the central government and you have to keep in mind that only Rs 90929 will be given extra. Your money is going to be completely safe.
Who can open a Post Office RD account!
If any citizen of India wants to take advantage of the scheme, then he can open an account and in this account both single and joint accounts are opened and an account can also be opened in the name of a minor and for this the guardian’s document is going to be required. You can invest money by opening an account in the name of children and in the name of adults and in your own name in the name of a woman.
How will an RD account be opened?
If you want to open a Post Office RD account, then you have to go to the nearest post office and get the application form there and after filling the application form, submit all the necessary documents, your account will be opened easily and in many places this facility has been made available online as well.
Documents required for Post Office RD?
You must have an Aadhaar card and a PAN card and a passport size photo and you can use any one identity card as address proof and you have to get KYC done at the time of opening the account.
If you want to open an account for a minor, then you must have a birth certificate and guardian’s documents.
Maturity and interest of Post Office RD and is it safe to invest money?
If you are going to invest money for 5 years and deposit ₹8000 per month at the rate of 6.7% interest, then you will get 570929 rupees and only about ₹100000 will be given in 5 years and investing money in this is very safe, there is no possibility of any kind of risk.
Conclusion
You can get more information about Post Office RD by visiting the nearest post office and in 5 years you will get more than ₹90000, so keep this in mind but your money will be absolutely safe wherever you are investing it.
