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Post Office RD Scheme: If you are looking for a risk-free investment, then Post Office RD Scheme (Recurring Deposit) can be a better option for you. In this, small investments give big returns. An investment of Rs 12 lakh can turn into more than Rs 14 lakh in 5 years.
New Delhi. When it comes to reliable investment without risk, the names of many post office related schemes come to mind. One of these schemes is the Post Office Recurring Deposit Scheme. In this, investment proceeds in a safe and reliable manner. It is very easy to invest in Post Office RD Scheme. You can open an account with just Rs 100 and deposit a fixed amount every month. In this, interest is compounded every three months on the amount deposited. At present, the annual interest rate has been fixed by the government at 6.7 percent, which is decided after every quarterly review. That means your investment is completely safe and with guaranteed returns.
Monthly investment of Rs 20,000 will give 14 lakh returns
If an investor deposits Rs 20,000 every month, the total investment in 5 years will be Rs 12 lakh. According to 6.7 percent interest, you will get interest of approximately Rs 2.27 lakh on this. That means the total amount on maturity will be Rs 14.27 lakh. This scheme not only gives stable returns but also offers better interest than bank FDs.
Security, loan facility and tax benefits also
The investor also gets many additional facilities in the Post Office RD Scheme. This scheme is backed by the Government of India, so the investment risk is zero. Apart from this, loan facility against the deposited amount is also available if needed. After maturity, the investor can increase the account or withdraw the amount if he wants. Besides, investments made in this scheme also get tax exemption under Section 80C of the Income Tax Act.
Why is this scheme the most reliable investment?
In today’s time when there are fluctuations in stock market and mutual funds, Post Office RD scheme emerges as a stable and safe option. This scheme is special for those people who want to create a secure fund for their future goals like children’s education, marriage or retirement by saving regularly.
