Post Office Best Saving Scheme: Invest in this amazing scheme of post office today; open the account now

Post Office Best Savings Scheme: Everybody tries to set aside a portion of their salary for savings and invests it in a secure investment with high returns. In this instance, individuals are starting to really like the savings programs that the post office offers. There is a plan where you may deposit over Rs 17 lakh with only Rs 333 per day. We are referring to the Post Office Scheme, also known as the Post Office RD Scheme, which is regarded as a piggy bank that offers investors enormous profits.

Best Option to Invest

There is zero risk associated with investing in RDs, as there is with all other Post Office savings plans. The security of investments in this is guaranteed by the government itself. However, even though this Small Savings RD Scheme has many advantages, you will need to remember to invest each month at the appropriate time. Failing to deposit an installment on time will result in a 1% monthly penalty, and if you miss four consecutive installments, your account will be closed automatically. This program matures after five years.

Open Account Now

You may start an account with this post office recurring deposit account (RD), which is among the greatest modest savings plans, by depositing Rs 100 per month. It also offers the option to establish a single or joint account. When it comes to money, this program now offers an excellent compound interest rate of 6.8%. That is to say, not only is the money of investors secure, but they are also receiving fantastic interest rates via this government program.

Its Calculation is Very Easy

It is extremely simple to calculate the amount of money that may be raised by investing in this well-liked postal plan, which is worth more than 17 lakh rupees. This strategy allows you to invest 333 rupees a day, which works out to be almost 10,000 rupees a month. This means that you will save 1.20 lakh rupees annually by doing this. In that example, you will deposit Rs 5,99,400 during the course of the five-year maturity term. At a 6.8% compound interest rate, this money will increase to Rs 1,15,427, making your total amount Rs 7,14,827.

You may now use this piggy bank for up to ten years if you want to continue your investment for an additional five years after the Post Office Recurring Deposit matures. Now, after ten years, you will have invested Rs 12,00000, and you will have earned Rs 5,08,546 in interest. After deducting interest, you would now get a total of Rs 17,08,546 after ten years.