Recurring Deposit: The post office has created a fantastic program for its clients, from which you can make significant profits. Customers of the Post Office enjoy the advantages of its recurring deposit program. Everyone invests in Mutual Funds these days, but investing in Mutual Funds is risky, whereas investing in Post Office Recurring Deposit Schemes is safe.
Every three months, interest will be paid.
Small savings programs like the Post Office Recurring Deposit program exist. For as long as you like, you can invest in it. You can put money into it for one, two, or even more years. You will receive interest under this plan every three months. The post office will add interest to your account once every three months.
What is the current interest rate?
This scheme will be available at a 5.8 percent interest rate. Every three months, the central government fixes the rate of its savings scheme. By investing in this scheme for a long time, you can accumulate lakhs. This scheme also allows you to obtain a loan. You can obtain a loan from a bank if you deposit 12 installments in this scheme. As a loan, you will receive 50% of the amount deposited in your account.
How to Obtain 16 lakhs
If you invest Rs 10,000 every month in the Post Office Recurring Deposit scheme, you will have more than Rs 16 lakhs after 10 years. In ten years, you will have invested Rs 12 lakh. When the scheme expires, you will receive Rs 4,26,476 as a return. After ten years, you will have a total of Rs 16,26,476.
Read More: EPFO Latest Update: EPFO’s Dhansu scheme to give more returns to the account holders! Know details
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