Post Office RD Scheme: Along with income, investing money in the right place can make you financially strong and carefree for the future. Therefore, while choosing an investment option, it is important to pay attention to both security and returns. If you are looking for a scheme where the risk is low and the savings can gradually turn into a big corpus, then government schemes can prove to be a better way.

Investors like post office savings schemes very much. Because the invested amount remains safe. Under the post office scheme, a fund of up to Rs 17 lakh can be created with a small savings of Rs 333 per day. Let us know its complete calculation….

Easy way to make big fund from small savings

Post Office’s Recurring Deposit (RD) scheme is considered good for those people who want secure returns by saving a small amount every month. Currently the scheme is offering 6.7 percent annual interest. The maturity period of RD is 5 years.

On maturity, the entire deposited amount is received along with interest. The big feature of this scheme is that investment can be started with just Rs 100 per month.

Complete calculation of making 17 lakh fund

If you invest Rs 333 daily, then around Rs 10,000 will be accumulated in a month. If this amount is invested for 10 years, the total amount becomes Rs 12 lakh. On maturity this money will increase to approximately Rs 17.08 lakh. Due to which you get the benefit of only interest of about Rs 5.08 lakh.

Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)

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Post Office Time Deposit Scheme: The Reserve Bank of India (RBI) has cut the repo rate twice this year, after which most banks have made loans cheaper and have also reduced interest on fixed deposits (FD). However, in the meantime, Post Office Savings Scheme has emerged as a reliable option among customers. The most important thing is that it is getting good returns as before with the guarantee of security. In such a situation, if you are looking for safe and fixed returns, then this post office scheme can prove beneficial for you.

Here we are talking about the Post Office Time Deposit Scheme Scheme, in which you can earn a guaranteed interest of Rs 44,664 in two years with an investment of just Rs 3 lakh. Under this scheme, the calculation of investment and interest is done in this way-

• Interest Rate for 1 year – 6.9 percent
• Interest Rate for 2 years – 7.0 percent
• Interest Rate for 3 years – 7.1 percent
• Interest Rate for 5 years – 7.5 percent

In such a situation, if you deposit 3 lakh rupees in 2 years under TD scheme, then after two years you will get a total of 3,44,664. That is, the amount of three lakh investment and 44,664 rupees will be available only as interest. This return is completely guaranteed.

What is special in this?

• The post office time deposit scheme is a government savings scheme, so it is completely safe.
• Investors of all ages get a similar interest on deposits- there is no different rate for senior citizens.
• You can start investment in post office time deposit scheme with a minimum of 200 rupees.
• The time deposit account can be easily transferred from one post office to another.
• Tax exemption under Section 80C on 5 years time deposit is exempted.
• You can withdraw the deposit amount ahead of time.
• Nomination facility is also available in it.
• More than one people can manage the time deposit account.

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