The Post Office Recurring Deposit (RD) scheme stands out as an excellent option for investors seeking safe and assured returns. The scheme is backed by the central government and offers guaranteed interest on investment
.Key points of the project:
The duration of this scheme is 5 years. Currently it is offering an interest rate of 6.7% per annum. The minimum monthly investment in the scheme is just Rs 100 and there is no limit to the maximum investment. A special feature of this scheme is that compounding is calculated every quarter, which increases the total return significantly.10,000 per month
. What is the result of investing?
If you invest 10,000 rupees per month continuously in this scheme for 5 years, you can expect to get around 7.11 lakh rupees instead of a total investment of 6 lakh rupees. This means it is possible to get a net profit of around 1.11 lakh rupees on your investment.10 lakhs in 5 years. Investment required to earn:If your goal is to accumulate Rs 10 lakh at the end of a 5-year period, you may need to invest around Rs 14,500 monthly in this scheme.