You will get Rs 25 lakh under this post office scheme, here is the complete calculation

Nowadays, everyone wants their savings to be safe and build a large corpus for the future. While the stock market and other investment options pose a risk of volatility, government schemes offer confidence. 

This is why Post Office small savings schemes are so popular among the public. One such scheme is the Post Office Recurring Deposit Scheme, which helps build a large corpus from small investments.

What is Post Office RD Scheme?

The Post Office Recurring Deposit (RD) scheme is for those who want to build a solid future by making small monthly savings. 

This is a fully government-backed scheme, so the investment risk is minimal. You can open an account with just ₹100, and there's no maximum investment limit, meaning you can increase the amount based on your income.

How will the trap of Rs 25 lakh be prepared?

Now let's address the question that's on everyone's mind: how can such a large fund be created? If you deposit Rs 15,000 every month into a Post Office RD, your deposit will grow to approximately Rs 10.7 lakh in 5 years. This scheme offers an interest rate of 6.70%.

If you continue investing in this scheme for 10 years, the picture changes completely. Your interest earnings over 10 years can reach approximately ₹7.5 lakh. 

Your total deposit and interest combined will result in a maturity corpus of approximately ₹25.6 lakh. This means that regular monthly savings can lead to a substantial sum.

Safe investment and good interest

The biggest advantage of the Post Office RD scheme is its safety. Deposits are completely safe and guaranteed by the government. 

Furthermore, the interest rates on this scheme are considered attractive. This is why employed individuals, small businesses, and those planning for retirement prefer this scheme.

Loan facility will be available

This scheme not only offers investment opportunities but also the ability to take out loans if needed. If you've maintained your RD account for at least one year, you can take a loan up to 50% of your deposit. 

The special thing is that the interest rate on this loan is also quite low, allowing you to meet your needs without much burden.

Easy to open and close an account

Opening a Post Office RD account is very easy. You can visit your nearest post office and open one. If you need to withdraw funds prematurely, you also have the option to close the account. This is why this scheme offers both flexibility and security.

Investment
Post Office
Government Schemes