If you wish to save Rs. 5000 per month but are unsure about where to invest the money, you no longer need to worry about anything. By investing this money in the Post Office Scheme as well, you can quickly build a fund worth lakhs. Since the first, the interest rate on Post Office RD has risen. The government has raised the interest rates for the Small Savings Scheme.
You need only start with 100 rupees in this Post Office Scheme.
By the way, even Rs. 100 can be used to start investing in Post Office RD (PORD). There is no upper limit in RD except for this. Your investment can be increased in multiples of Rs 10.
After five years, Post Office Scheme will give a profit of Rs 56,830.
For instance, if you deposit Rs 5,000 per month at the post office, you would receive about Rs 3,56,830 when the scheme matures after 5 years. You will put a total of Rs. 3 lakh towards this. In addition, the government will collect Rs 56,830 as interest.
2.5 lakh rupees in interest income over ten years
If you extend the Post Office RD for an additional five years, investing Rs 5000 each month for a total of ten years, you will receive Rs 8,54,272 at maturity. There will be interest income of Rs. 2,54,272 in this.
This data was provided by the Finance Ministry.
Let us inform you that a fresh notification on the increase in interest rates was released by the Finance Ministry. Interest rates for Post Office RDs have gone up by 20 basis points. Customers will now benefit from a 5-year fixed-rate mortgage (FD) interest rate of 6.7 percent instead of 6.5 percent from October 1, 2023, to December 31, 2023.
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